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$HAWK crypto scandal: Investors sue Hailey Welch over alleged fraud
A recent lawsuit has been filed by investors against various parties involved in the promotion and development of the cryptocurrency project, $HAWK. The defendants include Hailey Welch, also known as Hawk Tuah Girl, alongside other entities and individuals.
The lawsuit alleges that the defendants engaged in unlawful sales and compliance violations related to the offering and sale of the $HAWK token. The plaintiffs are seeking damages for losses incurred due to the drastic decline in value of the cryptocurrency following its launch.
It is alleged that the defendants promoted the project through various means, including social media campaigns and podcast appearances by Welch herself. This aggressive marketing push led to a rapid increase in market capitalization, with the token reaching a peak valuation of $490 million. However, this surge was short-lived as the token’s value dropped 95% shortly after.
Investors are understandably outraged and demanding justice for the financial losses they have incurred.
Source: ambcrypto.com
