Coffeezilla Debunks Misinformation Surrounding Hawk Tuah’s Memecoin Launch

Crypto sleuth Coffeezilla has pushed back against the spread of misinformation surrounding the recent memecoin launch by influencer Hailey Welch, also known as "Hawk Tuah."

Following a wave of online claims, Coffeezilla took to social media on December 6 to set the record straight and clarify key details.

Coffeezilla addressed the exaggerated rumors that Welch had pocketed millions. “Stop with the insane headlines,” he wrote, debunking claims that she had stolen $500 million or earned $50 million from the HAWK token launch. While acknowledging some controversy, including suspicions about insider trading and alleged “snipers” profiting from the presale, Coffeezilla emphasized that the actual situation was more nuanced.

He explained that the team behind the coin had presold a few million tokens to key strategic partners, but many of these tokens were sold off early, triggering a rapid price drop after the launch. Coffeezilla also commented on the uncertain financial outcomes from the presale, although he noted that, according to Welch’s lawyer, the influencer had only earned around $125,000 so far, with further funds locked up for a year.

The situation was further complicated by rumors of a potential lawsuit, which Coffeezilla swiftly dismissed. He clarified that no legal action had been taken against Welch yet, despite the claims circulating online. “Everything about lawsuits right now is pure misinformation,” he stressed.

As for Welch herself, she responded on social media, defending her actions and providing context for the launch. She stated that her team had not sold any tokens and emphasized that they had implemented high transaction fees to combat the alleged sniping. Despite the backlash, she remains adamant that the project was launched with good intentions, even as the controversy continues to unfold.