Overhere, the business behind the HAWK meme coin’s launch—named after viral internet celebrity Haliey Welch, sometimes known as the Hawk Tuah Girl—has moved responsibility for the token’s stunning failure onto Welch and her team.
Launched on the Solana blockchain in early December with significant buzz, the HAWK token fell by almost 90% within hours of its release. Furious investors called the launch a typical “rug pull,” claiming the crew dropped the business after benefitting from gullible consumers.
Overhere wrote a thorough thread on X (previously Twitter), claiming Welch and Alexander Larson Shultz—better known as “Doc Hollywood” and son-in–law of Canadian comedian Howie Mandel—of being responsible for the downfall of the token in an apparently attempt to dissociate herself from the issue. Schultz was instrumental in the HAWK project.
“Our goal was simple—bring Web2 fans into Web3 smoothly, and for free,” Overhere said in the discussion. “We pushed harder and harder, perhaps through rose-tincted glasses and naivety about others’s intentions, even as the project began to fall apart.”
Emphasising the company as a victim in the disaster, the thread notes Overhere worked on the project without a formal contract or financial recompense. They underlined that the technology underlying the launch is still operational and even welcomed so-called “true fans” to claim their tokens.
Overhere’s narrative presents an inexperienced business mislead by Shultz, whom they charge of using Welch’s popularity for personal benefit.
“This project needs Hailey’s team to step up, Doc to step down, and a full treasury audit,” the discussion ended. Hailey Welch, ready when you are.
Still, the reaction to Overhere’s assertions has been overwhelmingly bad.
Critics of X attacked the post, one respondent noting, “Are you trying to spin the facts because you know you launched a scam?” “Worst thread I’ve ever read, possibly in my entire life,” another said A third cynically said, “Our goal was simple—bring Web2 grifters into Web3 to rug it seamlessly.”
HAWK was trading at $0.001219 at the time of reporting; down 9.38% over the past 24 hours. Data from Crypto.com shows that the cryptocurrency peaked momentarily on December 5 at $0.003703.
