Hawk Tuah girl cryptocurrency memecoin plummets by $450 million in less than 20 minutes as fans claim they lost their life savings

Haliey Welch and the creators behind her '$HAWK token' have been accused of coordinating a 'rug pull' after the value of the cryptocurrency plummeted from

Fans of cryptocurrency memecoin 'Hawk Tuah girl' have claimed they lost their entire life savings in less than the amount of time it takes to watch an episode of The Simpsons.

Now, they've hired lawyers to go after Haliey Welch and the creators behind her '$HAWK token', which some say lost more than 95 percent of its value in the one day it was released on December 4.

The term 'rug pull' is used to describe the process where creators of cryptocurrency sell off their stock leading to prices crashing and those who put money into it are left with coins worth next to nothing.

The value of Welch's cryptocurrency plummeted from as much as $490 million to just $41 million.

Some fans are sceptical over Welch not being included in the lawsuit, which alleges the defendants used her social media following to market the coin to 'emphasize community engagement, inclusivity, and bridge mainstream culture with the cryptocurrency world'.

Taking to Reddit, one person commented: "Shes gonna be the scapegoat for the others involved."

"She tried to make easy money without knowing or caring how it worked. She knew they were using her name / popularity to promote so that’s all on her," a second said.

"Not saying the others involved shouldn’t get sued too, but she’s not an innocent scapegoat."

While another replied: "Of course she was trying to make money. But at the same time, she could’ve been lied to about how things will work.

"Even all of us here know s*** about f***, so imagine how clueless the average person is on crypto. Not saying she’s innocent about the scam part, but it’s possible."

UNILAD has contacted Welch's representatives for comment.