“Hawk Tuah” girl Hailey Welch said Friday that she is “fully cooperating” with lawyers representing people who lost money investing in her crypto token, HAWK, which crashed early December amid allegations of malfeasance.
“I am taking this situation very seriously,” he said in a post on X. The viral TikTok star encouraged HAWK coin victims to contact the law firm that is suing HAWK’s creators as he tries to “uncover the truth ” about the token.
The HAWK token — a memecoin on the Solana blockchain — exploded earlier this month almost the moment it was created. On-chain observers claimed that insiders pocketed huge amounts of money at the expense of people who bought the token, and lost a lot.
Its collapse sparked a lawsuit alleging securities violations against the creators of the Hawk Tuah coin. Filed by Burwick Law on behalf of people who lost money to HAWK, it accused the creators of using Welch’s internet fame to illegally sell unregistered investments.
In a statement, Burwick Law told CoinDesk:
“Integrity and justice are two of our core principles. Yesterday, Burwick Law and Wolf Popper began the process of pursuing the individuals and organizations responsible for the harm caused by the $HAWK token to investors and fans. Sadly, this is one of There are many memecoin cases where institutional greed has exploited celebrities and their influence to harm everyday people.”
The controversy derailed Welch’s burgeoning arc as a content creator parlaying his short-lived internet fame into low-level celebrity status. He seized his moment by signing representation, sponsorship and image licensing fees of his catchphrase and nickname Hawk Tuah.
One of those deals is for the Hawk Tuah coin. Welch received a fixed fee in exchange for lending his likeness to the project, according to a press agency that emailed CoinDesk without first being contacted. The agency’s email stated that “there is no guarantee that he will earn additional money from memecoin afterwards.”
