Hawk Tuah Girl Haliey Welch speaks out after lawsuit is filed over the collapse of her 'memecoin' cryptocurrency

Welch responded after a class action lawsuit was filed by Burwick Law yesterday (December 19), in relation to the rapid collapse of her crypto, called $HAWK.

Internet personality Haliey Welch, better known as "Hawk Tuah Girl," has spoken out after a class action lawsuit was filed over the collapse of her "memecoin" cryptocurrency.

Welch's response comes after Burwick Law filed a class action lawsuit yesterday (December 19) regarding the rapid crash of her crypto, called $HAWK.

The coin launched earlier this month and initially received support from Welch's fans, but within 20 minutes of its launch, the coin crashed from a high of $490 million to just $41 million.

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The sudden drop in value sparked backlash from Welch's fans, with one person calling her out online, writing, "I am a huge fan of Hawk Tuah but you took my life savings. I purchased your coin $Hawk that you were so excited about with my life savings and children’s college education fund as well."

Welch initially addressed the backlash on December 6, seemingly defending the coin's launch by copying and pasting a message to her followers on Twitter.

"Hawkanomics: Team hasn’t sold one token and not 1 KOL was given 1 free token," the message read.

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"We tried to stop snipers as best we could through high fee’s [sic] in the start of launch on @MeteoraAG. Fee’s [sic] have now been dropped."

However, after two weeks of silence from the social media star, investors who lost money are now taking the matter to court.

A document filed on behalf of the investors partly states that the lawsuit "arises from the unlawful promotion and sale of the Hawk Tuah cryptocurrency memecoin, known as the '$HAWK' token (the 'Token' or '$HAWK'), which Defendants offered and sold to the public without proper registration."

The lawsuit does not directly name Welch but alleges that her social media following was used to market the coin by defendants including Tuah The Moon Foundation, which handled the memecoin's finances; OverHere Ltd, which created the coin; Clinton So, an executive at OverHere; and Alex Larson Schultz, who promoted the coin.

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In response to the news of the class action lawsuit statement, Welch took to Twitter to address her fans and anyone who invested in the cryptocurrency, stating, "I take this situation extremely seriously and want to address my fans, the investors who have been affected, and the broader community.

"I am fully cooperating with and am committed to assisting the legal team representing the individuals impacted, as well as to help uncover the truth, hold the responsible parties accountable, and resolve this matter. If you have experienced losses related to this, please contact Burwick Law using the link below: https://www.burwick.law/newclient."