The lady behind a viral meme has needed to come ahead and say she was cooperating with attorneys over her memecoin.
Haliey Welch went viral after she used the time period “hawk tuah” to explain a intercourse act in an “on the street” model interview outdoors of a nightclub.
Since then, Welch has executed every part she may to capitalize on that fame — together with launching a social media profession, beginning a podcast and making competition appearances.
Her newest bid was a type of memecoin.
Hawkcoin, buying and selling beneath $HAWK, hit a peak complete market worth of $490 million quickly after launch on December 4 however a significant sell-off noticed that drop to $26.4 million.
Quickly after, Welch confronted backlash and scrutiny over her cryptocurrency.
The 22-year-old has simply spoken out, saying she is cooperating with attorneys to get the matter resolved.
“I take this situation extremely seriously and want to address my fans, the investors who have been affected, and the broader community,” Welch mentioned.
“I am fully cooperating with and am committed to assisting the legal team representing the individuals impacted, as well as to help uncover the truth, hold the responsible parties accountable, and resolve this matter,” Welch added. “If you have experienced losses related to this, please contact Burwick Law.”
Earlier this month Burwick Regulation put up a publish looking for individuals who had been impacted by the memecoin.
Some recommended the cryptocurrency was used as a pump-and-dump scheme – or artificially inflating worth earlier than rapidly promoting for revenue.
Coin Telegraph, a information web site masking crypto markets, reported knowledge from platforms Bubblemaps and Dexscreener that a mixture of insider wallets and “snipers” managed between 80 to 90 % of $HAWK’s provide at launch.
Snipers are entities that purchase up giant quantities of a token’s provide at launch earlier than promoting at a revenue.
One purchaser’s pockets sniped HAWK seconds after its launch, buying 17.5 % of the availability of the memecoin for the equal of $993,000.
Coin Telegraph reported that they proceeded to promote 135.8 million tokens for a revenue of $1.3 million.
Welch’s latest assertion got here after she took to social media to disclaim any wrongdoing when backlash towards the coin first started to emerge.
“Team hasn’t sold one token and not 1 KOL was given 1 free token,” she wrote in a publish on X. “We tried to stop snipers as best we could through high fees in the start of launch on Meteora.”
She beforehand instructed Fortune that her memecoin – so-named attributable to being primarily based on popular culture – was “not just a cash grab”.
