- The market valuation of the memecoin HAWK, which Welch’s team established on December 4, rapidly increased and decreased.
- On December 19, Welch’s team was sued by twelve investors who claimed that the HAWK memecoin launch was illegal under securities laws.
Hawk Tuah Girl, a 22-year-old internet celebrity, commented on social media for the first time in almost two weeks after her team was sued for allegedly breaking federal securities laws with the memecoin HAWK.
In a Friday X post, Welch stated that she takes “this situation extremely seriously and want to address my fans, the investors who have been affected and the broader community,” In addition to helping to find the truth, hold the guilty people accountable, and settle this issue, I am completely collaborating with and dedicated to supporting the legal team representing the affected parties.
Welch went on in the post to advise anyone who suffered financial loss to get in touch with Burwick Law, a New York-based legal firm that specializes in digital asset litigation.
The web3 launchpad platform OverHere Limited and Welch’s team introduced the cryptocurrency HAWK on December 4th, based on Welch’s online meme of “Hawk Tuah.” The token’s market valuation increased to almost $400 million shortly after introduction, but then fell 90%.
On December 19, twelve HAWK investors complained to OverHere and Welch’s team, claiming the token acted like an unregistered securities. The plaintiffs asked for a jury trial, claiming to have lost more than $151,000.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
