Hawk Tuah Girl ends two-week silence after lawsuit over fans losing life savings from her cryptocurrency.
Haliey Welch, known as ‘Hawk Tuah Girl’, has responded publicly after a lawsuit was filed against her over the collapse of her cryptocurrency, $HAWK.
The lawsuit, initiated by Burwick Law on December 19, involves the sudden loss of life savings for several investors who supported Welch’s ‘memecoin.’
The Launch and sudden decline of $HAWK
Earlier this month, Haliey released her own cryptocurrency, $HAWK, to much fanfare.
Previously, she launched HAWK Coin on December 4. Immediately, HAWK Coin quickly soared in value, but soon plummeted, leaving many investors in the lurch.
The sudden downturn has sparked outrage, with some calling for legal action against the viral star.
HAWK coin initially reaching a market cap of $490 million. However, the excitement was short-lived.
Within just three hours, the coin saw a drastic 91% drop, with its value crashing to $41.7 million.
This sudden decline left many investors with significant losses, sparking frustration and anger from those who had bought in.
Investors react to heavy losses after the HAWK Coin crash.
Hawk Tuah Girl breaks her two-week silence after being sued
On December 6, Welch briefly addressed the backlash on Twitter, defending the launch of the coin.
She posted a message that included details of the launch process, stating, “Hawkanomics: Team hasn’t sold one token and not 1 KOL was given 1 free token,” the message read.
“We tried to stop snipers as best we could through high fee’s in the start of launch on @Meteor.”
Lawsuit filed over $HAWK token
Despite Welch’s initial defense, the situation escalated as a class action lawsuit was filed by investors.
The lawsuit alleges that the $HAWK token was unlawfully promoted and sold to the public without proper registration.
While Welch was not directly named in the lawsuit, it claims her social media influence was used to market the coin.
Other defendants include Tuah The Moon Foundation, OverHere Ltd, Clinton So, and Alex Larson Schultz.
Following the legal action, Welch issued a statement on Twitter, emphasizing her concern for the affected investors.
She said, “I take this situation extremely seriously and want to address my fans, the investors who have been affected, and the broader community.” This statement reflects her attempt to reassure those who supported the cryptocurrency.
Additionally, Haliey Welch’s response comes after two weeks of silence regarding the $HAWK cryptocurrency’s downfall.
In short, the legal case unfolds, investors continue to seek justice for their financial losses, and Welch works to address the concerns of her fans and the broader community.