Haliey Welch, the viral internet personality known as "Hawk Tuah," has publicly denied any operational role in the collapse of the HAWK memecoin, stating she was misled by the project's team. In a recent interview with Andrew Callaghan on the Channel 5 YouTube channel, Welch described her involvement as limited to lending her name and image, while others handled the technical and financial aspects of the token.
Welch claimed she had no prior cryptocurrency knowledge and was "talked into" the project. She emphasized that she did not possess any funds from the memecoin launch and lacked the technical expertise to launch it herself. Following the token's implosion, Welch said she fully cooperated with a Federal Bureau of Investigation (FBI) probe in 2025, which cleared her of any wrongdoing.
The HAWK memecoin launched in December 2024 and experienced a meteoric rise, surging to a market capitalization of over $490 million within hours. However, it collapsed by over 91% the following day, falling to a market cap of about $41 million, and was widely characterized as a rug pull. At the time of reporting, its market cap had dwindled to just over $1 million.
Welch revealed the personal toll of the backlash, stating the incident "traumatized" her. She reported receiving death threats and attempted to keep a low profile for months afterward. Her lawyer estimated the total dollar amount lost by retail investors was about $200,000.
Not everyone was sympathetic to Welch's account. Onchain investigator ZachXBT criticized her actions, noting that she proceeded with the token launch despite warnings from the crypto community and later blamed her partners before disappearing from social media. In December 2024, an investor lawsuit was filed against the team and entities that created and managed the memecoin, alleging they sold unregistered securities; Welch was not named in that suit.
