The woman behind the viral meme had to come forward and say that she was cooperating with lawyers on her memecoin.
Haley Welch went viral after this He used the word “hawk tuh” Describing sexual activity in a “on the street” style interview outside a nightclub.
Since then, Welch has done everything she can cash in on that fame – including starting a social media career, starting a podcast, and making festival appearances.
Their latest offering was a variation of Memecoin.
Hawkcoin, trading under $HAWK, reached a total market capitalization of $490 million shortly after its launch on December 4, but dropped to $26.4 million due to a major selloff.
soon after, Welch faces backlash And his cryptocurrency will be investigated.
The 22-year-old recently said that she is cooperating with lawyers to resolve the case.
“I take this situation extremely seriously and want to address our fans, affected investors, and the broader community,” Welch said.
Welch said, “I am fully cooperating and committed to assisting the legal team representing the affected individuals, as well as uncovering the truth, holding responsible parties accountable, and helping to resolve this case.” Am.” “If you have experienced harm related to this, please contact Berwick Law.”
Earlier this month, Berwick Law put out a post to find people who were affected by Memecoin.
Some suggested the cryptocurrency was used as a pump-and-dump scheme – or to artificially increase the value before quickly selling for a profit.
Coin Telegraph, a news website covering crypto markets, reported data from the BubbleMaps and DexScreener platforms showed that a mix of insider wallets and “snipers” controlled 80 to 90 percent of the supply of $HAWK at the time of launch.
Snippers are entities who purchase large amounts of supply of a token at launch before selling it at a profit.
A buyer’s wallet snatched up HAWK just seconds after launch, purchasing 17.5 percent of the memecoin’s supply for the equivalent of $993,000.
Coin Telegraph reported that they proceeded to sell 135.8 million tokens at a profit of $1.3 million.
Welch’s latest statement comes after he denied any wrongdoing on social media when the backlash against the coin first began to emerge.
“The team has not sold a single token and 1 KOL has not been given 1 free token,” he wrote in a post on X.
He previously told Fortune that his Memecoin – so named because it was based on pop culture – “wasn’t just a cash grab”.
