However, many of her followers quickly incurred losses, with some claiming they lost their life savings due to a rapid and steep decline in the currency’s value.
Before long, legal firms became involved, initiating investigations, and now several individuals have filed lawsuits against the 22-year-old and her associates regarding the incident.
A court document submitted on December 19 accuses the defendants of “unlawful promotion and sale of the Hawk Tuah cryptocurrency memecoin,” alleging that $HAWK was “sold to the public without proper registration.”
Following the controversy, Joe Rogan provided his perspective, and his remarks were notably harsh.
During a recent podcast episode, Rogan commented: “One guy invested a million dollars. Imagine like, ‘The Hawk Tuah girl? Yeah, that’s a sound investment. That seems like a good place to put my nest egg.’”
The podcaster continued: “It was probably some people she got invested in, and she probably doesn’t understand all that stuff. She’s only 22 or something. It’s probably the partners that went with her. They pumped and dumped on her, and then she was left holding the bill because nobody knows who they are. I’m just guessing. I don’t know.”
A total of 12 individuals are reportedly suing Welch and her team for $151,000.
Commenting on this, Rogan remarked: “Isn’t it weird that there’s only 12 people and they’ve only lost $151,000 total? […] Like, how many cold stone r*****s are there roaming the world?”
Welch has publicly spoken about the situation, asserting that she is taking it “extremely seriously.”
Breaking her two-week silence on social media, the viral sensation tweeted: “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.”
She also encouraged individuals who have suffered losses to reach out to Burwick Law for assistance.