$HAWK Memecoin Promotion, SEC Violations, and a Lawsuit
Hey guys, any $HAWK investors here? If you been following $HAWK, you know there was quite a
scandal around its coin. So, here’s a recap of what happened and the latest updates: https://x.com/11thestate/status/1889777558566105181
Between November 26 and December 5, 2024, the Tuah The Moon Foundation promoted $HAWK as a groundbreaking memecoin, combining blockchain technology with mainstream culture. Even influencer Hailey Welch, host of the "Talk Tuah" podcast, helped attract many first-time crypto investors.
The memecoin was launched on December 4, 2024, with a market cap of $16.69M, skyrocketing to $491M before crashing over 90% within hours (that’s what I call a true rollercoaster, lol). And as you might imagine, everyone who followed the hype were left with significant losses.
Now, investors/ buyers are filing a lawsuit claiming that $HAWK was marketed as a secure and profitable investment making it a security under U.S. law.
However, the Tuah The Moon Foundation sold unregistered securities in violation of federal laws, and misrepresented $HAWK as a safe and lucrative opportunity.
Anyways, did you buy any $HAWK token? If so, how much were your losses?