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Internet celebrity Haliey Welch is facing a lawsuit for her Hawk Tuah Token project's big dump due to its encryption.
PANews reported on December 20th that social media celebrity Haliey Welch is being sued by investors for her recently launched encryption project Hawk Tuah. The project, based on Solana's issuance of $HAWKToken, experienced a big dump of 95% within hours of going live, causing significant losses for many investors. The lawsuit alleges that Welch and his team promoted and sold the Token to the public without proper registration, which is suspected of being illegal. The Hawk Tuah project is part of Welch's branding strategy after he gained 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, demanding accountability for the project's related actions.