Hailey Welch, a 22-year-old from Tennessee, skyrocketed to fame in June 2024 after a cheeky street interview went viral. Known as the “Hawk Tuah Girl,” her phrase became cultural wildfire.
Within days, TikTok remixes, branded merchandise, and podcast deals followed. By July, she’d quit her factory job, earning $65,000 from merchandise and $30,000 per party appearance. However, her ambitions didn’t stop there.
From TikTok Stardom to Overnight Millions
Capitalising on her fame, Welch launched $HAWK, a Solana-based memecoin, in December 2024. Promoted as a “community-building tool,” the token debuted with celebrity endorsements.
Jake Paul, despite his 2023 SEC crypto charges, amplified her brand. Billionaire Mark Cuban also endorsed the project, drawing his massive following. Meanwhile, the token’s launch saw frenzied trading, hitting a $500 million market cap in minutes.
Yet cracks emerged immediately
Blockchain analysts uncovered alarming details: 96% of $HAWK tokens sat in one wallet cluster, controlled by insiders. Within hours, developers dumped their holdings, crashing the price by 95%.
Investors lost millions, while Welch’s team denied wrongdoing, claiming they “hadn’t sold a single token.” Conversely, data proved 100% of their supply was liquidated. Chaos escalated as Welch abruptly cancelled a crisis X Space, stating she “needed sleep.”
Celebrity Backlash and Broken Trust
Jake Paul and Mark Cuban faced fury for promoting $HAWK. Paul’s history of controversial crypto projects resurfaced, while Cuban’s credibility took a hit. Investors slammed the duo for enabling the scam.
Welch’s team blamed snipers and bot traders for the crash. Yet critics argued the tokenomics invited exploitation. “This wasn’t a mistake; it was a setup,” tweeted crypto investigator Coffeezilla.
Lawsuits, Regrets, and a Revenge Coin
By mid-December, lawsuits targeted Welch’s partners, accusing them of fraud and selling unregistered securities. Retail investors shared heartbreaking losses; one claimed $33,000 vanished in 10 minutes. Welch retreated from public view, later admitting on a leaked podcast she’d been “naive” and “misled.”
Meanwhile, a revenge token, $TUAH, emerged, mocking Welch’s downfall. It briefly surged before fading, mirroring $HAWK’s speculative cycle.
Lessons from the Memecoin Meltdown
The $HAWK saga underscores meme coin risks: volatile hype, celebrity influence, and lax regulation. While Welch’s team avoids conviction, the SEC reviews complaints, signalling potential crackdowns. Experts urge investors to scrutinise token distribution and avoid FOMO-driven bets.
Ultimately, Welch’s story is a blend of viral fame and financial ruin and serves as a crypto cautionary tale. As Joe Rogan noted, “If it sounds too good, it’s probably a trap.”
Written By Fazal Ul Vahab C H
