Group behind viral ‘Hawk Tuah’ star’s meme coin hit with lawsuit over crash

The group behind the meme money, named after viral “Hawk Tuah Girl” Hailey Welch, has been dealt a blow. case Reactions from investors after the $HAWK coin crashed a few hours after its launch.

In the complaint filed in New York on Thursday, Tuah The Moon Foundation; overHere Ltd and its founder Clinton So; and Alex Larson Schulz, the influencer known as “Doc Hollywood,” were charged with illegally selling and promoting the coin, which was allegedly not a registered security, according to The New York Post.

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The representation of cryptocurrencies is seen in this illustration photo taken in Krakow, Poland, on November 14, 2022. (Jakub Porzycki/NurPhoto via Getty Images / Getty Images)

Welch was not named in the lawsuit and addressed the situation on social media on Friday.

“I take this situation extremely seriously and would like to appeal to my fans, affected investors and the wider community,” he wrote about X. “I am fully cooperating with the legal team representing the affected individuals and am committed to assisting them.” “To help uncover the truth, hold those responsible accountable, and resolve this matter.”

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Welch referred anyone hurt by $HAWK coin To contact Burwick Law firm.

Haliey Welch appears at SiriusXM Studios in Los Angeles on July 31. (Michael Tullberg/Getty Images/Getty Images)

$HAWK was released on December 5, and Welch promoted it to her followers on social media. Meme coin quickly rose to a market cap of $490 million and within a few hours its valuation dropped to just $41.7 million.

Haliey Welch appears at SiriusXM Studios in Los Angeles on July 31. (Michael Tullberg/Getty Images/Getty Images)

Welch told Fortune at the time that Hawk was not a “cash grab.”

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22-year-old celebrity of the night He said that while he viewed cryptocurrency as a scam, he changed his mind because it was “a fun way to engage my fans.”

FOX Sports’ Scott Thompson contributed to this report.