Investors Sue Haliey Welch Over $HAWK Memecoin's 95% Crash, Alleging Unregistered Securities Sale

Dec 19, 2024, 03:54 PM

Haliey Welch, known as the "Hawk Tuah Girl," is facing a lawsuit filed in the Eastern District of New York by investors seeking $151,250 in damages after the memecoin $HAWK, which she promoted, lost over 95% of its value on its first day of trading. The lawsuit alleges unlawful promotion and sale of unregistered securities, claiming that the token was marketed without proper registration with the Securities and Exchange Commission (SEC). Welch has not made any public statements in two weeks since the incident, and her "Talk Tuah" podcast has not released any new episodes. The $HAWK token was associated with the Tuah The Moon Foundation and was launched on the Solana blockchain. Investors accuse her of orchestrating a "rug pull" scheme that left them with significant financial losses.