PANews reported on December 20 that according to Watcher.Guru, social media celebrity Haliey Welch was sued by investors for her recently launched crypto project Hawk Tuah. The $HAWK token issued by the project based on the Solana chain plummeted 95% within hours of its launch, causing a large number of investors to lose money.

The lawsuit alleges that Welch and her team violated the law by promoting and selling the token to the public without proper registration. The Hawk Tuah project is part of Welch’s branding strategy after she rose to fame this year, launching the “Talk Tuah” podcast and merchandise.

Currently, investors have formally filed a lawsuit on December 19, 2024, demanding responsibility for the relevant actions of the project.