Haliey Welch isn’t listed in HAWK memecoin lawsuit

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—by Protos Staff

Investors are suing the team behind Haliey Welch’s HAWK crypto project in a lawsuit alleging that crypto-newbies enticed by her endorsement suffered significant damages when the token crashed. 

Newsweek reports that the lawsuit filed today claims “defendants offered and sold to the public without proper registration.” This, it says, resulted in the “unlawful promotion and sale of the Hawk Tuah cryptocurrency memecoin.”  

It also states that “many of the investors were first-time cryptocurrency participants drawn to the project through Welch’s involvement,” and that after the token crashed, it caused “substantial damages to investors who relied on Welch’s participation and the project’s stated road map.” 

One of Welch’s last posts before going quiet on social media.

Read more: Haliey Welch’s HAWK token team breaks silence to shift the blame

Defendants listed in the lawsuit include the Tuah The Moon Foundation, overHere Ltd. and its exec, Clinton So, and Alex Larson Schultz, a.k.a. “Doc Hollywood.” Welch isn’t named as a defendant. 

The suit claims they “leveraged Welch’s celebrity status and connections to enhance the Token’s credibility and appeal.” It also claims “aggressive” promos and growth promises were used to create a “speculative frenzy.”

Welch hasn’t posted anything on her social media channels since launching the token. Indeed, the last thing she posted — that she was going to bed — quickly became a meme.

Despite radio silence from Welch, overHere did address the controversy, claiming that most of the blame should be placed on Schultz. It did admit, however, that it should’ve been more diligent.

The lawsuit seeks a trial by jury and over $150,000 in damages.

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