PANews reported on December 20 that social media influencer Haliey Welch has been sued by investors over her recently launched crypto project Hawk Tuah. The project issued the $HAWK token on the Solana blockchain and 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 branding strategy after she gained fame this year, and she has also launched the 'Talk Tuah' podcast and related merchandise.
Currently, investors have officially filed a lawsuit on December 19, 2024, holding responsible for the relevant actions of the project.
