🌎 Hailey Welch Faces Lawsuit Over Failed Solana Meme Coin

Celebrity Meme Coin Controversy: Hailey Welch Faces Lawsuit Over Failed Solana Launch

Social media influencer Hailey Welch, known for her viral “Hawk Tuah” interview, is facing a federal lawsuit after investors lost thousands of dollars in a botched celebrity Solana meme coin launch. The lawsuit, filed by U.S. law firm Burwick Law, alleges that Welch and three other individuals behind the Hawk Tuah Solana meme coin are responsible for the losses.

Background on the Controversy

The Hawk Tuah Solana meme coin, launched in early December, was styled after Welch’s popular “Hawk Tuah” phrase. The coin skyrocketed immediately after its debut, reaching a market capitalization of $500 million. However, minutes later, the token fell 90% and tumbled under $50 million. By the time of publication, the token traded at a market cap of under $8 million.

Outraged investors and data providers discovered that the HAWK token was highly clustered, with team wallets supposedly linked to Welch and other insiders holding 96% of the coin’s supply. The controversy reached a new high when observers discovered these wallets sold large amounts of HAWK’s supply, despite Welch claiming she and her team were still holding.

Lawsuit Details

Burwick Law’s lawsuit names four defendants, including Welch, OverHere Limited, Clinton So, and Alex Larson Schultz, aka Doc Hollywood. The lawsuit notes 12 U.S. residents as plaintiffs with $151,000 in collective losses. Burwick has filed several lawsuits against celebrities for launching meme coins that allegedly became exit scams and rug pulls.

OverHere Limited has pushed the blame onto Doc Hollywood, claiming the entity made nothing from the launch. OverHere admitted its silence was the wrong move and insisted the company’s mistake was trusting the wrong partners. Doc Hollywood has locked his X account since the social media fracas and has seemingly gone underground.

Response from Hailey Welch

Welch, the Hawk Tuah girl herself, has been unavailable since appearing on a Dec. 5 live X Spaces event. Her attempts to address the rug pull rumors clashed with angry buyers who wanted answers. In response, Welch said, “Anyhoo, I’m going to go to bed and see you guys tomorrow.” Fourteen days later, Welch remains unavailable, and requests for comment sent to her team have gone unanswered.

Welch’s team and OverHere Limited have yet to provide a clear explanation for the failed launch and the loss of investors’ funds. The lawsuit is ongoing, and it remains to be seen what consequences the defendants will face.

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