Hailey Welch, better known as the "Hawk Tuah girl," has publicly addressed the fallout from the failed HAWK memecoin launch in December 2024. Despite full cooperation with an FBI investigation that cleared her of wrongdoing, the collapse triggered death threats and intense public scrutiny.
The Rise and Crash of HAWK Memecoin
When HAWK launched, it quickly reached a market capitalization of over $490 million. Within hours, however, the token lost more than 90% of its value, with the market cap plummeting to around $41 million the next day. The event was widely labeled a rug pull, leaving many investors with significant losses.
Welch, who had promoted the token to her followers, claimed she had no knowledge of the technical details behind the launch and no control over the funds. She estimated that total investor losses were around $200,000, but emphasized the social and emotional toll was far higher.
Death Threats and Mental Health Toll
After the crash, Welch began receiving death threats. "I was starting to get death threats and everything else. People telling me I owe them all this money, and I’m like, ‘I didn’t do this,’" she said. The backlash caused her to retreat from social media for months, taking a heavy toll on her mental health.
Her lawyer stressed that the FBI investigation found no evidence of fraud or intentional wrongdoing on her part. Still, many in the crypto community continued to blame her for promoting the memecoin.
Legal Actions and Divided Opinions
An investor lawsuit was filed against the team behind HAWK, accusing them of selling unregistered securities. Welch was not named as a defendant. The suit highlighted alleged mismanagement and fraudulent promotion.
Not everyone was sympathetic. On-chain sleuth ZachXBT commented: "She starts posting about meme coins. The entirety of [crypto Twitter] tells her ‘do not launch a token.’ She launches a memecoin anyway, and after, she blames partners and disappears off social media, with followers losing funds." The incident continues to spark debate about the responsibility of influential figures in the crypto space.