“Hawk Tuah” babe Hailey Welch said Friday that she is “fully cooperating” with lawyers representing people who lost money investing in her crypto token, HAWK, which failed in early December amid allegations of wrongdoing. conduct.
“I take this situation very seriously,” he said in a post on truth” about the token.
The HAWK token, a memecoin on the Solana blockchain, imploded earlier this month, almost at the time of its creation. On-chain observers have claimed that insiders pocketed huge sums of money at the expense of people who bought the token and lost a lot.
Its collapse sparked a lawsuit over alleged securities violations against the creators of the Hawk Tuah coin. Filed by Burwick Law on behalf of people who lost money on HAWK, it accused the creators of taking advantage of Welch’s Internet fame to illegally sell an unregistered investment.
In a statement, Burwick Law told CoinDesk:
“Integrity and fairness are two of our founding principles. Yesterday, Burwick Law and Wolf Popper began the process of pursuing the individuals and organizations responsible for the harm caused to investors and fans by the $HAWK token. Unfortunately, this is a of many memecoins. “Instances where institutional greed has exploited celebrities and their influence to harm ordinary people.”
The controversy derailed Welch’s burgeoning arc as a content creator who was parlaying her momentary Internet fame into low-level celebrity status. He had seized his moment by signing representation, sponsorship and image licensing fees for his catchphrase and nickname, Hawk Tuah.
One of those deals was for the Hawk Tuah coin. Welch received a flat fee in exchange for lending her likeness to the project, according to a news agency that emailed CoinDesk without first being contacted. The agency’s email said there was “no guarantee that she would make additional money from the memecoin afterwards.”
