Is Hailey Welch’s Crypto Flop The End Of Celeb Coin Era?

Hailey Welch, known for her viral “Hack Tuah” video, now faces backlash over her failed crypto launch, $HAWK. Her project reached an ATH of $495 million to just collapsed moments after launch. Over 96% of the coin’s supply was sniped, leaving many buyers empty-handed and others with worthless holdings. Investors claim they lost thousands of dollars within minutes.

The collapse of $HAWK has led to accusations of insider manipulation. Investigations revealed that a small number of wallets held the vast majority of the tokens. These insiders allegedly dumped their holdings for profit shortly after launch, causing the coin’s value to crash. Fans who invested were left “holding the bag,” fueling outrage and legal action. Investors have since filed a lawsuit against Welch and her partners.

$HAWK didn’t disappoint

96% of the supply in one cluster

nice 🤡 https://t.co/AP645QzkfI pic.twitter.com/ERHTG7v5oa

— Bubblemaps (@bubblemaps) December 4, 2024

Hailey Welch Disappeared After $HAWK Disaster

(HAWKUSDT)

Adding to the controversy, Welch has disappeared from public view since the crypto flop. Her weekly podcast, Talk Tuah, has not released a new episode since December 3, the day before the $HAWK token’s launch. Welch has also been silent on her social media channels, leaving fans and investors in the dark. During a live Spaces stream on X (formerly Twitter) addressing the token’s collapse, Welch abruptly ended her participation, saying, “Anywho, I’m gonna go to bed,” before disappearing entirely.

The incident highlights the growing skepticism around “celebrity coins.” This trend began with Iggy Azalea’s “Mother” coin, which enjoyed brief success. Inspired by her, more celebrities joined the bandwagon. However, these tokens often lacked proper planning, clear utility, or safeguards for investors. Many saw them as get-rich-quick schemes for the stars rather than meaningful projects.

Jason Derulo’s ill-fated cryptocurrency is another infamous example. His coin promised exclusive music releases and fan interactions but ended up being labeled a pump-and-dump scam. Investors lost money as the coin’s value plummeted, and the artist’s reputation took a hit. Other celebrity tokens followed the same pattern, leaving fans disillusioned.

Jason Derulo launched $JASON

The price dropped 70% and he blamed Sahil for scamming him.

He promised to stay with his community

But never mentioned the token again.

(4/8) pic.twitter.com/llPQ7sKsSW

— StarPlatinum (@StarPlatinumSOL) December 6, 2024

Hailey Welch’s case might be the tipping point. The failure of her coin not only hurt her brand but also sparked a broader conversation about accountability in the crypto space. Many are now questioning why celebrities, with little knowledge of blockchain technology, continue to launch such projects. Critics argue that these ventures exploit fan loyalty without delivering real value.

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EXPLORE: Record-Breaking $2.2 Billion Stolen From Crypto Platforms In 2024, Chainalysis Finds

Disclaimer

Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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