$HAWK Token Makes $500M Disappear Faster Than “Hawk Tuah”
A cryptocurrency token promoted by social media personality Hailey Welch, known for “Hawk Tuah,” has sparked outrage after a suspected rug pull left investors facing massive losses. The token, $HAWK, launched on the Solana blockchain, briefly surged to a market cap of $500 million before plummeting to less than $60 million within 20 minutes. Investors claim the crash was caused by insider activity, with accusations that the personality behind the nickname orchestrated the collapse.
The $HAWK token was heavily promoted on social media, primarily by Welch, who operates under the persona “Hawk Tuah.” Welch’s followers were encouraged to buy into the token, which she marketed as the next big opportunity on the Solana blockchain.
Investor excitement drove $HAWK’s market cap to a staggering $500 million shortly after launch, with many retail buyers investing substantial sums. However, as quickly as the token soared, it crashed. Within minutes, the market cap had dropped below $60 million, wiping out millions in investor funds.
“I put $35,000 into $HAWK after seeing Hawk Tuah’s excitement about it,” said one investor, known on social media as @jiggadrin_. “Within 10 minutes, my investment was worth $2,000. I had no idea she was planning to dump her holdings almost immediately.”
The term “rug pull” refers to a scam where developers of a cryptocurrency token manipulate the market by creating hype, inflating the token’s value, and then selling off their holdings, leaving other investors with worthless assets. In this case, Welch is accused of buying 97% of $HAWK’s supply at launch and selling off her holdings as the token price spiked, effectively draining liquidity and causing the crash.
“I invested my life savings and my children’s college fund because I trusted her,” continued @jiggadrin_. “She didn’t disclose she was holding such a massive share of the supply. If I’d known, I would never have bought in.” It was unclear if the post was genuine or intended as satire given the events.
The fallout has been swift and brutal. Social media is awash with angry comments from investors accusing Welch of deceit. “We need a recession soon,” posted @RampCapitalLLC, in response to the financial irresponsibility displayed by both Welch and her followers.
At the time of reporting, Welch has not provided a detailed response to the allegations.
This incident is the latest in a series of high-profile rug pulls that highlight the risks associated with unregulated cryptocurrency investments. Unlike traditional financial markets, cryptocurrency operates in a largely unregulated space, allowing bad actors to exploit investors with minimal consequences.
Some experts argue that the rapid rise of tokens like $HAWK is symptomatic of a speculative bubble fueled by influencer culture and the allure of quick riches.
Welch rose to fame as Hawk Tuah Girl in June 2024 after a street interview during Nashville’s CMA Music Festival went viral. In the video, Welch humorously described a provocative bedroom technique, coining the term “hawk tuah,” which quickly caught on as an internet sensation, amassing over 18 million views.
At the time, Welch was a factory worker in her small hometown of Belfast, Tennessee, but the overnight fame led her to quit her job and embrace her new celebrity status. With over 2.5 million Instagram followers, Welch expanded her brand through a podcast, “Talk Tuah”.
Information for this briefing was found via the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
