Investors allege memecoin HAWK, associated with internet personality Haliey “Hawk Tuah Girl” Welch, acted as an unregistered security, causing financial damage. The lawsuit claims HAWK attracted first-time cryptocurrency investors with promises of profit and a reliance on Welch and her team's efforts for success.
The team behind the memecoin HAWK , tied to internet celebrity Haliey “ Hawk Tuah Girl” Welch, has been sued by a group of investors for alleged violations of securities law s.that a lawsuit filed in a District Court of New York last week alleges that the memecoin HAWK , which gained popularity due to its association with viral internet personality Haliey “ Hawk Tuah Girl” Welch, acted as an unregistered security and caused substantial financial damage to cryptocurrency investors.
The complaint also states that marketing efforts surrounding HAWK provided investors with a reasonable expectation of profits, and the token’s success relied heavily on the efforts of Welch and her team. Haliey Welch, also known as “Hawk Tuah Girl,” gained viral popularity in June 2024 for her response in a street interview, which included the phrase “hawk tuah.” The web3 launchpad platform OverHere facilitated the launch of HAWK on the Solana blockchain on December 4. The token experienced a surge in value, reaching a market capitalization of approximately $400 million before plummeting by 90 percent.
Memecoin Securities Law Cryptocurrency HAWK Haliey Welch
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