‘Hawk tuah girl’ Haliey Welch says FBI probed her ‘memecoin disaster’

Haley Welch, known as the “Hawk Tuah girl,” faced FBI and SEC investigations following the failed launch of her HAWK memecoin. The FBI visited her grandmother’s home, prompting a panicked call and subsequent interrogation of Welch. Both investigations were closed without charges or sanctions.

The HAWK memecoin, launched in early December, plummeted by 90% almost immediately. Blockchain analytics implicated insider trading and coordinated dumping of the token at launch. Welch, who gained viral fame for a YouTube interview, admits to limited crypto knowledge before the launch, stating she “trusted the wrong people.”

A company, unnamed for legal reasons, managed her X account, posting promotional videos containing lines she was instructed to record. Welch claims she received only a marketing fee, with all earnings spent on legal and PR expenses. She was unprepared for a livestream interview with YouTuber Coffeezilla, who, she claims, presented her in an unfavorable light.

Welch expresses remorse for her fans’ losses. She acknowledges insufficient crypto knowledge and regrets involving herself in the project. A lawsuit was filed against the alleged creators of HAWK—Alex Schultz, the Tuah the Moon Foundation, OverHere Limited, and its founder Clinton So—by disgruntled buyers who claim the token was an unregistered security. Welch was not named as a defendant.

The incident highlights the risks associated with memecoins and the potential for exploitation of influencers with limited understanding of the cryptocurrency market. While Welch cooperated fully with authorities and was cleared of wrongdoing, the experience serves as a cautionary tale for both investors and influencers involved in similar projects. The incident also underscores the lack of regulation in the memecoin space, making it a fertile ground for fraudulent activities and leaving investors vulnerable to substantial losses.