Influencer’s Meme Coin Promotion Now at the Heart of Fraud Litigation
- Influencer Haliey Welch faces federal lawsuit for promoting the collapsed HAWK meme coin, accused of earning $325,000 to mislead investors. - The HAWK token surged to $490M before crashing 93%, with claims insiders sold $1.27M in tokens minutes post-launch. - Welch's manager and company are co-defendants; the case links HAWK to other alleged "rug pulls" like TRUMP and LIBRA tokens. - Legal action highlights expanding scrutiny of influencers in crypto, as Welch's promotion amplified the token's fraudulent
Haliey Welch, widely recognized online as the "Hawk Tuah" girl, has been named as a defendant in a federal class action lawsuit against the creators of the ill-fated Solana-based
HAWK’s market cap briefly soared to $490 million within 15 minutes of launch, only to drop by 93% soon after. The lawsuit alleges this crash was orchestrated, with insiders selling $1.27 million worth of tokens just minutes after trading began
The lawsuit also notes Welch’s rapid rise to fame after a spontaneous 2024 interview where she discussed her "hawk tuah" move, which she later used to build a massive social media following
Burwick Law has not provided an explanation for its decision to add Welch to the case after initially leaving her out. The firm has also taken legal action against other prominent meme coin ventures, such as the M3M3 token and the TRUMP snipe coin
It should be emphasized that these are only allegations, and no court has yet determined their accuracy. Both Welch and Burwick Law have declined to comment
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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