Hawk tuah girl Hailey Welchs crypto launch draws scrutiny [Video]

It was a social media catchphrase, then a merchandising opportunity and, finally, a cryptocurrency.

Now, the social media sensation who lent her viral “hawk tuah” moment to a new digital coin is the face of the latest controversy centred around crypto and what some are calling an all-too-familiar racket meant to trick people out of their money.

Influencer Hailey Welch, who shot to internet stardom this year thanks to a particularly viral interview clip, is pushing back on accusations that “HAWK,” the cryptocurrency she helped launch this week, is a scam after its price plummeted.

Welch said on X that she and the people behind the coin have not sold any of their holdings.

The coin’s market capitalisation was around $US28 ($A43) million as of Thursday afternoon, down from nearly $US500 ($A782) million when it peaked Wednesday, according to DEX Screener, which monitors the price, trading volume and on-chain trades of …