Hailey Welch, the creator of the popular webtoon Hawk Tuah, is under scrutiny after the disastrous launch of her cryptocurrency, Hawk Tuah Coin.
Story Summary:
- Creator of the viral webtoon “Hawk Tuah,” Hailey Welch, faces allegations of misleading fans with her cryptocurrency, Hawk Tuah Coin, which tanked shortly after launch.
- Fans report losing life savings, sparking debates about Welch’s involvement and responsibility in the project’s collapse.
- Experts warn about the dangers of influencer-led cryptocurrency projects, citing a lack of regulation and transparency.
Fans lose thousands in failed crypto venture
The digital asset, marketed as a community-building initiative for fans, saw its value plummet within hours of its launch, leaving many investors in financial distress.
According to reports, fans allege they were misled by Welch’s direct promotion of the coin on social media platforms.
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She described the cryptocurrency as “an exciting way for the Hawk Tuah family to grow together and prosper.”
However, within 24 hours of trading, the coin’s value dropped by over 90%, prompting accusations of a rug-pull scheme.
One fan, who claims to have lost their life savings, shared on Reddit:
“I trusted Hailey. She said this coin was for us, her loyal fans. Now, I’ve lost everything.”
What went wrong with Hawk Tuah Coin?
The rapid collapse of Hawk Tuah Coin exposes several red flags typical of unregulated cryptocurrency ventures.
Experts, as reported by Unilad, point to Welch’s lack of technical expertise and reliance on third-party developers to create and manage the project.
“Influencers often underestimate the complexities of launching a cryptocurrency,” said crypto analyst Dr. Aaron Feldman.
“In this case, poor planning and likely malicious intent from unseen developers have created a perfect storm for disaster.”
Further investigation reveals that Hawk Tuah Coin’s smart contract lacked essential safeguards, enabling a significant transfer of funds to external wallets shortly after launch.
Welch denies any involvement in this transaction, stating:
“I was assured by my team that everything was secure and legitimate.”
Was this a scam? – Here’s what an expert revealed
The fallout from Hawk Tuah Coin has reignited debates about influencer-led cryptocurrency projects.
Dr. Feldman stressed the importance of regulation:
“Without oversight, fans are left vulnerable to exploitation.”
Legal experts indicate that Welch could face lawsuits if evidence ties her directly to fraudulent activities. However, her supporters argue that she may have been misled by the developers she trusted.
For now, Welch remains silent on her next steps.
Fans and critics alike await further clarity, but the damage to her reputation and her audience’s financial well-being appears irreparable.
