Haliey Welch, known online as “Hawk Tuah Girl,” found herself in controversy after launching her cryptocurrency $HAWK on the Solana blockchain. Welch, who shot to viral fame this summer with her explicit sex advice, recently entered the cryptocurrency world by promoting $HAWK.

The coin’s value quickly rose by 900% after its launch on Wednesday, but the excitement was short-lived as the price plunged 95%, leading to accusations of a pump-and-dump scheme. Many investors suspect that insiders have been manipulating the coin’s value to make quick profits, with some people reportedly accumulating large chunks of the coin to sell at inflated prices.

Despite Welch’s attempts to deal with the fallout through a live discussion on X (formerly Twitter), the situation only worsened. During the session, crypto experts including YouTuber Coffeezilla criticized the launch, with some calling the project a scam. Concern grew when it emerged that $HAWK insiders appeared to be profiting from exorbitant transaction fees. For example, one crypto wallet collected 17.5% of the coin’s total supply and sold it for $1.3 million in just 90 minutes.

Welch, who has been promoting the coin to her followers, has not provided clear answers about the situation. Investigative reports later revealed that she was paid $125,000 to market the token and would receive 50% of the net proceeds. The controversy continues, with many accusing Welch of neglecting due diligence, resulting in significant financial losses for her fans. Meanwhile, a new “revenge coin,” $TUAH, has emerged that mocks Welch’s involvement and seeks to surpass $HAWK’s market cap. The situation remains under monitoring as legal and reputational issues remain.