Iggy Azalea Faces Lawsuit Over Solana Meme Coin

Rapper Iggy Azalea is facing a people enactment suit successful national tribunal successful New York implicit allegations that she misled investors astir the inferior and improvement of her Solana-based meme coin, which trades arsenic MOTHER.

The complaint, filed Tuesday successful the U.S. District Court for the Southern District of New York, accuses Azalea of promoting the token arsenic having real-world usage cases and commercialized integrations that did not materialize, starring to capitalist losses.

“This lawsuit is not astir mean volatility successful a cryptocurrency oregon the inherent hazard that a speculative integer plus whitethorn diminution successful value,” the plaintiffs’ attorneys said. “It is astir a celebrity-led promotional run that induced consumers to acquisition and clasp a integer token done specific, worldly representations astir real-world utility, commercialized integrations, organization marketplace shaper support, and continuing development.”

The plaintiff, Wisconsin nonmigratory Kenneth Kolbrak, is seeking damages connected behalf of investors who purchased Azalea’s meme coin and mislaid money. He claims helium bought the token aft seeing statements astir its inferior and would not person done so, oregon would person paid less, if those claims had been accurate.

Amethyst Amelia Kelly, known professionally arsenic Iggy Azalea, entered the crypto marketplace successful 2024 during a wave of personage meme coins, launching MOTHER connected Solana. The token rapidly gained traction and surged to a marketplace capitalization of implicit $200 million wrong weeks of launch. At its peak, MOTHER traded astatine astir $0.23 per token, giving it a afloat diluted valuation of astir $227 cardinal based connected full supply, and it has since declined by much than 99%, according to CoinGecko.

Unlike galore celebrity-backed tokens, Azalea stayed intimately progressive successful the project. She promoted it heavy connected societal media, engaged with the community, and tied the token to a broader ecosystem that included events, a planned casino called Motherland, and different ventures, including a telecommunications work and a retail marketplace.

According to the lawsuit, Azalea promoted “Motherland” arsenic being powered by MOTHER, but alleges that erstwhile the casino launched successful aboriginal 2025, its halfway operations utilized USDT instead.

The suit besides claims Azalea said users could bargain phones and wage bills with MOTHER done Unreal Mobile and usage the token exclusively connected a planned marketplace called DreamVault, but alleges neither worked nor launched arsenic described.

“As of the day of this Complaint, nary durable, publically observable MOTHER outgo integration exists connected the Unreal Mobile platform,” the ailment said.

The suit raises further questions astir Azalea’s relationships with crypto marketplace makers Wintermute and DWF Labs. While those partnerships were presented arsenic a motion of organization support, the ailment alleges that investors were not told however those firms could commercialized the token oregon however those arrangements mightiness impact terms dynamics.

The suit seeks damages for investors who mislaid money, including statutory and perchance triple damages, on with attorneys’ fees and a assemblage trial, and names further “Doe Defendants,” a ineligible placeholder for individuals whose identities are not yet known.

The suit is being brought distant by Burwick Law, which has made a sanction for itself successful crypto circles for going aft meme coin promoters and projects. The instrumentality steadfast was notably down the lawsuit filed against Hailey Welch, known arsenic the “Hawk Tuah” girl, and promoters of her meme coin. To date, the instrumentality steadfast has yet to unafraid palmy judgments successful immoderate meme coin cases, arsenic astir stay successful pre-trial phases.

Representatives for Azalea and Burwick Law did not instantly respond to Decrypt's petition for comment.