According to ChainCatcher, social media influencer Haliey Welch is being sued by investors over her recently launched crypto project Hawk Tuah. The project, which issued the HAWK token on the Solana chain, plummeted 95% within hours of its launch, leading to significant losses for 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 rose to fame this year, and she also launched the "Talk Tuah" podcast and related merchandise.
Currently, investors have officially filed a lawsuit on December 19, 2024, seeking accountability for the project's related actions.
