Haliey Welch, the "Hawk Tuah" star, has broken her silence after investors launched a lawsuit following the crash of her memecoin cryptocurrency venture.

The group behind Welch's memecoin - which lost more than 95 percent of its value in a single day when it was released on December 4 - are being sued for failing to register the cryptocurrency, according to court documents.

Lawyers for the investors wrote in their December 19 filing 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."

Responding to the lawsuit, Welch wrote on X, formerly Twitter: "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."

Named in the suit are Tuah The Moon Foundation, which was used to handle money taken in from the sale of the memecoin; the coin's creator, OverHere Ltd; its executive Clinton So; and the memecoin's Los Angeles-based promoter, Alex Larson Schultz.

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