Haliey Welch Reflects on $Hakk Cryptocurrency Debacle

Haliey “Hawk Tuah” Welch recently shared her experience with the controversial cryptocurrency, $hakk, admitting she was unaware of its mechanics prior to its launch.

The coin, which she backed, shot up in value before crashing dramatically in December 2024, leaving many investors in the lurch. Welch recalled the moment, saying, “Honestly, I couldn’t explain how the code worked when it went live,” during her appearance on the Talk Tuah Podcast, marking her first discussion about the situation.

“I really didn’t know much. I had no idea what I was getting into,” she added, acknowledging the fallout from the project.

At one point, $hakk boasted a market cap of $500 million, but it quickly lost all its value, resulting in substantial losses for its investors. Following the crash, the FBI and the Securities and Exchange Commission launched an investigation, leading Welch’s legal team to advise her to halt public appearances.

Welch, who rose to fame after a viral street interview, insists she is not guilty of fraud related to the meme coin and clarified that her compensation came solely from promotional efforts. “I wasn’t financially involved in the coin itself,” she noted. “I was just paid for marketing.” She expressed remorse for those who trusted her and subsequently lost their money.

“I feel really bad for them. They relied on me, and I led them into something I didn’t fully understand. I didn’t have enough knowledge about crypto, but I still spoke on it, trusting the wrong people,” she reflected.

At just 22 years old, Welch mentioned that she couldn’t disclose the identities of those who misled her, but emphasized how her association with other promoters—like Alex Larson Schultz—has resulted in a class-action lawsuit filed in New York against them.

A representative for the implicated company stated, “We’re confident that we haven’t done anything wrong.” Meanwhile, Welch shared that she poured her promotional earnings into managing the fallout from the situation.

“I spent it all on PR, on new lawyers… it went toward dealing with this entire mess,” she explained, further detailing the harassment she faced after the coin’s failure.

Reflecting on her experience, Welch recounted a frightening encounter where she felt threatened. “Somebody actually said they wanted to ‘cut me up and feed me to my dog’ after the drop, and I received a ton of hostility.” Things took a serious turn when federal agents even visited her grandmother’s home, believing she might be involved in something illegal.

“My grandma had a heart attack when she heard the FBI was there asking about me. She panicked,” Welch recalled. “They insisted she wasn’t in trouble, but they wanted to see my phone.” Welch described a thorough interrogation regarding her involvement in the cryptocurrency world, ending with her feeling rattled yet cleared.

In the end, she concluded, “It was definitely a terrifying experience, but legally, I ended up without any issues.” Still, she recognized the chaos that ensued. “But it sure was a huge mess.”