So, here we go again. Another day, another crypto fiasco. This time, it’s Hailey Welch and her “Hawk Tuah” memecoin spectacle. Yes, “Hawk Tuah” — a name that sounds more like a quirky fantasy football team than a serious investment. But somehow, people bought in. Now, those same people are filing lawsuits after the token pulled a disappearing act, shedding 95% of its value almost overnight.
Investors say Welch, along with a merry band of characters—including “Tuah The Moon Foundation” (seriously?), OverHere Ltd, some exec named Clinton So, and promoter Alex Larson Schultz—all had a hand in this mess. According to Newsweek, these folks are accused of hyping up the token, cashing in, and then leaving investors holding a bag of worthless digital confetti. Classic rug pull.
The coin, referred to as a ‘$HAWK token,’ quickly rose to a $490 million market cap, before ultimately tanking more than 90 percent, to below $100 million, within hours of its December 4 launch.
🚨 NEW: Hailey Welch’s “Hawk Tuah” crypto project faces a lawsuit after accusations of “rug pulling” investors, tanking the token by 95%.
The lawsuit alleges Tuah The Moon Foundation, OverHere Ltd, and promoter Alex Larson Schultz misled first-time investors, relying on Welch’s… pic.twitter.com/A5tiegQ4it
— Axel (@AxelCharai) December 19, 2024
Apparently, a lot of the people who got burned were crypto newbies. They saw Welch’s name, thought, “She’s in, so it must be legit,” and jumped in without looking. The lawsuit even calls out the “unlawful promotion and sale” of the Hawk Tuah token, which is legalese for “these people played us.”
The big sell? Welch’s involvement and a shiny “road map” that promised moon landings, yachts, and probably some laser-eyed memes. The reality? The only moon here is the one investors were left staring at as their bank accounts got bare. Now they’re suing for damages because, shocker, when the token tanked, it hit like a brick wall. Dreams crushed. Wallets emptied.
And let’s be real, Welch’s star power was the bait. People saw her name and thought, “She’s got this.” But instead of delivering Lambos, the Hawk Tuah crew delivered lawsuits.
Crypto’s already the Wild West, but this? This is some saloon brawl-level chaos. The whole thing’s a mess, and the investors want their money back. Can’t blame ‘em. Will they get it? Who knows? But one thing’s for sure: Hawk Tuah’s no soaring eagle—it’s more like a turkey on Black Friday.
