I know this may come as a surprise to some, but a woman primarily known for imitating the sound she makes while spitting on a man’s penis may not be the height of ethics. Haliey Welch, better known as Hawk Tuah girl, rose to fame after a drunken moment went viral. She parlayed that notoriety into a podcast run by Jake Paul’s media company.
Then came his foray into cryptocurrency with a coin – a type of digital currency that thrives on the development of a community. I hate to sound harsh, but if you invest a significant amount of money in a coin, you’re an idiot. Unfortunately, the cryptocurrency market is still far from idiot-proof, leaving well-meaning, good-natured idiots vulnerable to scams.
Case in point: Haliey Welch launched a meme coin called $Hawk yesterday. Reports indicate that approximately 96% of the coin was held by ten interconnected accounts, almost certainly controlled by Welch herself. After its launch, these accounts artificially inflated the coin’s value to $500 million. Soon after, they sold their holdings, bringing the coin’s value to around $50 million. The insiders walked away with huge profits – not only from the pumping and dumping scheme, but also from transaction fees – while everyone else was getting ripped off. Among the victims was someone who lost his entire life savings in just a few minutes.
I’m a big fan of Hawk Tuah but you took my savings.
— Madeleine Peltz (@peltzmadeline.bsky.social) December 4, 2024 at 9:07 p.m.
Welch and his team addressed the controversy during a Spaces Twitter session last night, saying it was all legit, but no one seems convinced. Many buyers probably thought they were supporting someone they trusted because of how sincerely she made the spitting sound while drunk. Instead, they joined a “community” only to watch their money disappear.
Unfortunately, the crypto industry remains largely under-regulated. Although “rug pulling” is unethical, it is not always illegal, and even if it were, proving intent would be difficult. So while Hawk Tuah’s daughter may have lost her internet fame, she will likely walk away with millions, which otherwise is probably more money than she could have amassed on her own before this fame does not fade away.