Hailey Welch, popularly known as the "Hawk Tuah Girl," promoted a cryptocurrency called Hawk Tuah coin.
However, the coin's value plummeted, causing investors to lose money and prompting legal battles against the coin's creators.
Lawsuits have been filed against Welch's promotional partners and entities involved in launching the coin, alleging market manipulation and intentional deception.
This incident highlights the risks associated with meme coins and the need for regulatory scrutiny in the cryptocurrency market.