Haliey Welch (Photo via hay_welch/IG)
A cryptocurrency expert has explained the series of events leading up to Haliey Welch’s possible fall from grace.
Welch, 22, shot to fame after coining the phrase “Hawk Tuah” during a random street interview. She quickly became a celebrity, attracting all sorts of earnings and launching her own podcast.
It appears things have come crashing down as she’s being accused of scamming her fans out of their hard-earned money.
The “Hawk Tuah” Girl launched a Hawk Tuah coin (HAWK) this week, which hit a market cap of close to $500 million. However, it lost 95 percent of its value in short order, and investors who rushed in to buy took a massive hit.
Welch took to X to deny any wrongdoing after accusations started flying.
“Team hasn’t sold one token and not 1 KOL was given 1 free token. We tried to stop snipers as best we could through high fee’s in the start of launch on @MeteoraAG. Fee’s have now been dropped,” she wrote.
A user going by the handle @AlexMasonCrypto has explained why the above is likely a lie, citing another account, @bubblemaps, which shows that 96 percent of the coin’s supply was controlled by the developers, who dumped them shortly after launch.
“According to @bubblemaps, 96% of the $HAWK supply was concentrated in a single cluster, meaning the developer controlled 96% of the tokens and dumped them, liquidating exactly 100% of the supply they held,” they wrote.
“This explains precisely why the token soared initially before crashing.”
You can check out the thread below for a thorough explanation.
It appears Haliey might have some serious questions to answer; then again, she might not.
In any case, fans have begun filing official complaints, while a law firm has offered its services to anyone affected by the alleged pump-and-dump.
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