PANews reported on December 20 that social media influencer Haliey Welch is facing a lawsuit from investors over her recently launched crypto project Hawk Tuah. The project issued the $HAWK token on the Solana chain, which plummeted 95% within hours of its launch, causing significant losses for many investors.
The lawsuit alleges that Welch and her team promoted and sold the token to the public without proper registration, which is suspected to be illegal. The Hawk Tuah project is part of Welch's brand strategy after she gained fame this year, which also includes the launch of her podcast 'Talk Tuah' and related merchandise.
Currently, investors have officially filed a lawsuit on December 19, 2024, demanding accountability for related actions regarding the project.
