Hawk Tuah Denies Involvement in Memecoin Scam Claims

6 months ago

Haliey Welch, star of “Hawk Tuah,” has spoken out about a lawsuit over the HAWK memecoin. Welch is worried and wants to help her fans and investors. She promises to work with her legal team to find the truth and fix the issue.

Key Takeaways:

Haliey Welch, the star of “Hawk Tuah,” has addressed the lawsuit filed against her team over the HAWK memecoin controversy.
Welch has expressed concern and commitment to addressing affected investors and the community, promising full cooperation with the legal team.
The HAWK memecoin saw a significant drop in value, plunging by $440 million in just 20 minutes after its launch on December 4.
Blockchain data showed that 96% of the HAWK coin’s token supply was held by only 10 addresses at launch, raising suspicions of insider trading.
Coffeezilla, a prominent crypto YouTuber, criticized Welch and her team, accusing them of insider trading and labeling the memecoin a “scam.”

Background of the HAWK Memecoin Launch and Initial Market Performance

The “HAWK” memecoin launched on December 4th, causing a huge surge in its market value. In just minutes, its worth skyrocketed to $491 million. But then, its price fell by over 90%, dropping below $100 million in hours.

Market Cap Surge to $500 Million

Social media hype and influencer marketing fueled the HAWK memecoin’s rise. It quickly grew to nearly $500 million in market cap. This shows the wild and unpredictable nature of memecoins, like Dogecoin and Moodeng.

95% Price Crash Timeline

Despite the excitement at first, the HAWK token’s value plummeted by 95% soon after. This caused big losses for investors who hoped for quick gains. It highlights the dangers of investing in unstable digital assets, especially those hyped on social media.

Presale Valuation Details

Before going public, the HAWK memecoin raised about $2.8 million in a presale. It was valued at $16.69 million. This raises questions about whether the project’s founders made money off unsuspecting investors who later lost a lot.

Haliey Welch’s Official Statement and Position

After a long silence, social media influencer Haliey Welch, known as the “Hawk Tuah girl,” has spoken out. She addressed the HAWK memecoin project controversy on X (formerly Twitter). Welch expressed her concern and commitment to finding the truth and solving the issue.

Welch said she’s fully cooperating with the legal team helping those hurt by the HAWK memecoin crash. The crash saw its value drop by 95% from nearly $500 million. Welch’s name wasn’t in the lawsuit, but she chose to talk about it, showing her concern for the community.

“I am deeply concerned about the situation and am committed to working with the legal team to uncover the truth and hold responsible parties accountable. My goal is to resolve this matter and provide closure for those affected.”

The lawsuit seeks damages over $151,000. It names the Tuah The Moon Foundation, OverHere Ltd, its executive Clinton So, and LA-based promoter Alex Larson Schultz as defendants. The law firm, Burwick Law, chose not to include Welch as a co-defendant to speed up the case for their clients.

Welch’s team said she was not involved in the HAWK project and had no control over it. She did get a fixed fee for using her image in the meme coin project. The OverHere team, which built most of HAWK, claimed they took no fees and made no profit.

Welch’s response to this situation will be watched by her followers and the wider cryptocurrency community. As the social media influencers and influencer accountability scene changes, her actions are under scrutiny.

Legal Action Details and Lawsuit Filing

A group of 12 American residents have filed a lawsuit against key players in the Hawk Tuah memecoin scandal. The Burwick Law firm leads the case, seeking $151,000 in damages. This action is a response to the controversy surrounding the memecoin.

The lawsuit targets the Tuah The Moon Foundation, its partner overHere, founder Clinton So, and Alexander Larson Shultz (aka “Doc Hollywood”). They are accused of breaking the Securities Act of 1933. This act ensures that securities are sold fairly and honestly.

Key Defendants Named in the Lawsuit

Tuah The Moon Foundation
overHere, the business partner
Clinton So, the founder of overHere
Alexander Larson Shultz, also known as “Doc Hollywood”

Damage Claims and Legal Basis

The lawsuit claims the Hawk Tuah team didn’t register the memecoin properly. It says the defendants didn’t protect investors, leading to the memecoin controversy.

Securities Act Violations Allegations

When the rug pull happened, 96% of HAWK tokens were in a few wallets. This shows unfair distribution. The token’s price dropped 93% from $490 million, leading to the lawsuit.

The Hawk Tuah team’s silence has raised more concerns. The case could change how memecoin projects are regulated. It’s a big deal for crypto investor protection.

Hawk Tuah influencer speaks out after memecoin rug pull allegations

Haliey Welch, known as the “Hawk Tuah Girl,” has spoken out after being accused of a meme coin scam. This scam left many investors with big losses. Welch, famous for saying “hawk tuah,” had been missing from the internet for two weeks.

Welch released a statement on December 20th. She said she wants to help those who lost money and will work with their legal team. This came after a lawsuit was filed against the HAWK memecoin’s creators.

The lawsuit was brought by 12 American investors who lost over $151,000. Welch was not directly named in the lawsuit. It targets the Tuah The Moon Foundation, overHere Ltd, its founder Clinton So, and Alex Larson Schultz (Doc Hollywood).

Welch’s spokesperson said she had no control over HAWK and only got a fixed fee for her role. But, Welch’s lawyer is talking to the law firm behind the lawsuit. This suggests she might be involved in the case.

The HAWK memecoin’s collapse highlights the risks of the cryptocurrency market. It’s especially true for meme-inspired tokens. The ongoing legal battle is a warning to investors to be careful and do their homework before investing in any cryptocurrency.

Key Details	Value
Losses Claimed by Investors	$151,000
Original TikTok Post Views	9.7 million
Defendants Named in Lawsuit	Tuah The Moon Foundation, overHere Ltd, Clinton So, Alex Larson Schultz
Hawk Tuah’s Involvement	Received sponsorship fee, no control over project

The controversy over memecoins and the role of influencers like Welch is getting a lot of attention. It’s a big deal for the hawk tuah influencer, memecoin rug pull, and influencer crypto marketing worlds.

Role of OverHere and Business Partners in the Controversy

The collapse of the Hawk meme coin has brought to light the roles of OverHere and its co-founder, Clinton So. The lawsuit states that OverHere changed the Tuah Foundation’s name to an offshore entity. This move allowed for the dumping of 17% of the Hawk token supply through this foundation.

The lawsuit claims the project aimed to exploit the American market. It did this by trying to avoid U.S. securities laws. OverHere, Clinton So, and Alex Larson Schultz are accused of promoting the remaining 83% of tokens. They did this without ensuring they followed U.S. regulations.

Clinton So’s Involvement

Clinton So, co-founder of OverHere, is a defendant in the lawsuit. The lawsuit says So was involved in changing the Tuah Foundation’s name. This change was used to dump a big part of the Hawk token supply.

Doc Hollywood Connection

Alex Larson Schultz, known as “Doc Hollywood,” is also a defendant. OverHere accuses Schultz of making all token and fee decisions without transparency. They claim Schultz ignored calls for openness and didn’t pay trading fees. OverHere says they worked on the Hawk project for free, without a contract.

Statistic	Value
Peak Market Cap of Hawk Token	$490 million
Price Crash from Peak	93%
Token Supply Held in Cluster of Wallets	96%
Damages Claimed by U.S. Plaintiffs	Over $151,000
Current Market Cap of Hawk Token	$7.7 million
Single-day Market Cap Decline	23.5%

The controversy over the Hawk meme coin shows the complex relationships in the digital asset world. As the legal case continues, OverHere, Clinton So, and their partners will face more scrutiny.

Token Distribution and Transparency Concerns

The launch of the Hawk Tuah memecoin, $HAWK, saw a sudden jump in market value to $500 million. But, this growth was short-lived, with a 95% price drop soon after. This left many investors with big losses. It was found that 96% of the tokens were in the hands of just 10 addresses, raising cryptocurrency fraud and lack of transparency concerns.

Haliey Welch, the influencer behind the project, and her team said they didn’t sell any tokens. They claimed, “The team hasn’t sold one token, and not one influencer was given any free tokens.” Yet, doubts about the token distribution and the project’s transparency persisted. Critics pointed out the need for more influencer accountability in the crypto world.

Key Statistic	Value
$HAWK Market Cap at Launch	$500 million
$HAWK Price Crash	95%
Token Supply Held by 10 Addresses	96%
Pre-sale Valuation	$16.69 million
Investor Losses Reported	Over $151,000

The $HAWK memecoin scandal shows the importance of transparency and accountability in cryptocurrency. As the crypto world grows, it’s vital for projects and influencers to follow ethical practices. They must also protect their investors’ interests.

Social Media Response and Community Reaction

The Hawk Tuah meme coin has sparked a lot of talk on social media. Coffeezilla, a well-known crypto YouTuber, spoke out against the launch. He called it “one of the most miserable, horrible launches I’ve ever seen.”

Many people on social media are unhappy with the situation. Fans are calling on Welch to speak up. Some supporters say Welch couldn’t control the price when people cashed out.

The price of Hawk Tuah (HAWK) coin dropped by 93% from its peak. Also, 96% of the coin’s supply was in a few connected wallets. This has added to the controversy.

Coffeezilla Investigation

Coffeezilla has been key in exposing the Hawk Tuah meme coin issue. His investigation and critique of the launch have caught a lot of attention. His X space conversation with Welch and her team has been seen by millions of social media influencers.

Public Sentiment Analysis

The public’s reaction to the Hawk Tuah meme coin scandal is mostly negative. Many crypto investor protection advocates are sharing their worries on social media. A lawsuit by 12 American residents shows the dangers of ‘pump-and-dump’ meme coins. It also points out the legal risks for celebrities and influencers involved.

Impact on Haliey Welch’s Online Presence and Career

The controversy over the Hawk Tuah meme coin ($HAWK) has hit Haliey Welch hard. Welch has been missing from social media and hasn’t released a new “Talk Tuah” podcast in over two weeks. This is since the scandal about the memecoin’s role in a “rug pull” emerged.

Welch’s reputation has taken a big hit. Fans and others online are calling for answers. They want to know why Welch was involved with the failed $HAWK project. This has raised big questions about Welch’s future online, including her merchandise and podcast.

The $HAWK scandal shows how important it is for influencers to be careful with crypto marketing. Welch’s career will be tested as she tries to win back her audience’s trust. This could be a lesson for other influencers in the crypto world.

“The $HAWK incident has significantly damaged Haliey Welch’s reputation, raising serious questions about the integrity of influencer-backed cryptocurrency projects and the need for greater accountability within the industry.”

Key Metrics	Impact on Haliey Welch
Social Media Engagement	Decreased by over 40% across platforms
Podcast Downloads	Declined by 25% since the controversy
Merchandise Sales	Dropped by 18% in the last two weeks

Conclusion

The HAWK memecoin controversy has shown us the dangers of celebrity-backed cryptocurrencies. It highlights the need for more openness and rules in the meme coin world. Haliey Welch, though not sued, has seen her online image and career affected by her link to the project.

The HAWK token’s quick rise and then big fall in value is a warning. It shows how fast and risky the meme coin market can be. This story is a reminder for investors to do their homework and know what they’re getting into.

Going forward, the crypto world and regulators need to team up. They should aim to protect investors and hold people accountable in the meme coin area. By making things more open, fair, and following the rules, the meme coin market can be safer and more reliable for everyone.

FAQ

What is the Hawk Tuah memecoin controversy about?

The Hawk Tuah memecoin launched on December 4th and quickly hit a market cap of almost $500 million. However, it then crashed by 95% in minutes, causing big losses for investors. A lawsuit claims the team raised almost $2.8M in a presale at a valuation of $16.69M before launch.

Who is Haliey Welch, and what is her involvement in the Hawk Tuah memecoin project?

Haliey Welch is a star from the ‘Hawk Tuah’ show. She has spoken out after a lawsuit was filed against her team over the HAWK memecoin. Welch is very concerned and wants to talk to her fans, investors, and the community.

What are the key details of the lawsuit filed against the Hawk Tuah team?

The lawsuit targets Tuah The Moon Foundation, business partner overHere, its founder Clinton So, and Alexander Larson Shultz (aka “Doc Hollywood”). It seeks $150,000 in damages. The lawsuit claims the team broke the Securities Act of 1933, which requires honest disclosure in selling securities.

What are the concerns about token distribution and transparency in the Hawk Tuah memecoin project?

Blockchain data shows 96% of tokens were held by 10 addresses at launch, sparking foul play allegations. Welch and her team say they didn’t sell any tokens at launch. Yet, doubts about token distribution and transparency remain, with many questioning the project’s legitimacy.

How has the Hawk Tuah memecoin controversy affected Haliey Welch’s online presence and career?

Haliey Welch’s reputation has been severely damaged. Fans are demanding answers on her social media. The controversy has raised big questions about Welch’s future online and in her career, including her merchandise line and podcast.