Breaking months of silence, former Hawk Tuah icon Hailey Welch finally spilled the beans on the controversial crypto project that saw investors lose millions. During her appearance on the “Talk Tuah” podcast with FaZe Banks, Welch painted herself as just another victim in the $HAWK debacle – claiming she knew next to nothing about crypto before jumping in headfirst.
The numbers tell a different story though. Welch pocketed a cool $125,000 upfront payment and was promised an additional $200,000 plus 10% of the tokens. Not bad for someone who supposedly didn’t know what she was getting into. Like many speculative meme coins, the project relied heavily on social media hype and influencer marketing to drive its value.
Despite claiming ignorance, Welch secured $125,000 upfront and promises of $200,000 more plus token shares in the doomed crypto venture.
The project initially skyrocketed to a $500 million market cap before crashing spectacularly – dropping 95% in just days. The rapid decline prompted aggressive lawsuits from devastated investors. Welch now claims she was deceived about the project’s tokenomics by a “friend of a friend.” Sure. A single wallet purchased 17.5% of tokens and made 1.3 million in profit immediately after launch.
The podcast episode, which mysteriously disappeared shortly after its release, sparked a 291% surge in the token’s price. FaZe Banks later accused the team of leaking the episode, while Welch’s camp pointed fingers at Alex Larson Schiltz, aka Doc Hollywood.
While a lawsuit has been filed against Tuah The Moon Foundation, Welch herself isn’t named as a defendant. She’s reportedly cooperating with legal teams representing affected investors and directing those who lost money to contact Burwick Law firm. How convenient.
The whole mess launched on December 4, 2024, marketed as a “long-term coin” – which turned out to be about as long-term as a snowball in summer. Welch claims she feels terrible for affected investors, but that sentiment comes a bit late for those who lost their shirts.
The controversy continues to swirl, with speculation about potential arrests making the rounds. Meanwhile, Welch maintains she’s just another victim in this crypto catastrophe.
Whether investors buy that story is another matter entirely. One thing’s for sure – this meme coin’s explosion left more than just memes in its wake.
