Hawk Tuah Girl Responds to Lawsuit Over Meme Coin Crypto Crash

Hawk Tuah Girl Responds to Lawsuit Over Meme Coin Crypto Crash

Viral internet star Hailey Welch, better known as “Hawk Tuah Girl,” has spoken out for the first time in weeks following the crypto crash of her meme coin $HAWK just hours after its launch.

A lawsuit against the makers of $HAWK was filed in US District Court in New York on Thursday. The lawsuit filed by investors accuses overHere Ltd., its founder Clinton So and social media influencer Alex Larson Schultz, and the Tuah The Moon Foundation of unlawfully promoting and selling cryptocurrencies that were allegedly never properly registered. However, Welch is not named as a defendant in the lawsuit.

Meme coins are cryptocurrencies inspired by internet memes or cultural trends. They rely on humor or the promise of a fun community to attract users, but for this reason they are also extremely volatile and are generally viewed as having little value.

On December 4, when the $HAWK tokens were launched, the meme coin rose to a market cap of $490 million before plunging 95 percent to under $100 million within minutes. Investors reportedly lost a total of $151,000. The lawsuit also accuses the team of exploiting Welch’s popularity to market the token and alleges insider trading and deceptive advertising practices.

After two weeks of silence, Welch spoke out Friday about her commitment to helping those who have lost money. She wrote on to help uncover the truth, hold the responsible parties accountable and resolve this matter.”

The 22-year-old continued: “If you have suffered any losses in this regard, please contact Burwick Law using the link below.” Welch has claimed that she did not play an active role in the launch of the $HAWK coin.

Billionaire investor Mark Cuban stepped in to defend Welch in the aftermath. “She didn’t quite understand it,” he said during a podcast with The Washington PostThis is Jules Terpak. “But she trusted the people around her.”

The Hollywood Reporter reached out to Welch’s team and a representative from Betr Media.

Leave a Reply

Your email address will not be published. Required fields are marked *