Investors claim the rapper’s Solana-based token was promoted with promises of real-world utility that allegedly failed to materialise.
Iggy Azalea is facing a federal class action lawsuit over her ‘Mother’ meme coin after the token reportedly lost about 99.5% of its peak value. The complaint, filed in the Southern District of New York, alleges that buyers were misled by promotional claims around the token’s real-world use, commercial integrations, and continued development.
According to the lawsuit, ‘Mother’ was marketed as part of a larger ecosystem tied to Azalea, including telecom services, an online casino, merchandise, and other business ventures. However, plaintiffs claim those promises were either incomplete, temporary, or not delivered in a durable way.
The token launched on Solana in May 2024 and quickly gained attention during the celebrity meme coin wave. Now, the case adds more scrutiny to celebrity-backed crypto projects and the risks fans face when hype, influence, and speculative assets collide.
