Viral Hawk Tuah Girl breaks silence over financial losses from her branded meme coin
Share:
“I am fully cooperating with and am committed to assisting the legal team representing the individuals impacted, as well as to help uncover the truth, hold the responsible parties accountable, and resolve this matter,” she added, directing followers to a law firm currently suing over the coin.
On Thursday, investors in the coin hit $HAWK’s creators with a lawsuit in New York federal court, seeking over $150,000 in damages and alleging they’d lost thousands on the coin, which they claimed was an illegal unregistered security. The suit accuses the coin of leveraging Welch’s “extensive social media following” to “market the Token as a groundbreaking cryptocurrency project,” while attempting to “skirt the American securities laws” and making “no serious attempt to restrict purchasers” to buyers outside the U.S., creating a “speculative frenzy.”.
The suit names overHere Ltd., a Web3 crypto launchpad platform that helped facilitate the sale; Clinton So, the company’s founder; the Tuah the Moon Foundation, an entity that allegedly sold an allocation of coins; and Alex Larson Schultz, a musician and crypto promoter.
Welch herself is not a named defendant, but she promoted the coin offering heavily on social media and discussed it on her podcast during an episode with billionaire investor Mark Cuban. Cuban has defended Welch in recent days. Both overHere and So have denied wrongdoing, and have defended Welch.
