Haliey Welch Named in Class Action for Hawk Tuah Meme Coin Collapse
- Haliey “Hawk Tuah” Welch is now included in a class action lawsuit against the creators of the Hawk Tuah meme coin.
- The lawsuit alleges Welch was paid up to $325,000 to promote the token with claims of false technical capabilities.
- The token reached a market cap of $490 million within minutes before collapsing by 93%.
- Insiders allegedly sold $1.27 million worth of tokens shortly after launch.
- Welch’s company, along with her manager Johnnie Forster, has been added as defendants in the case.
The lawsuit claims that insiders orchestrated a scheme designed to crash the token soon after launch, allowing them to profit from initial sales before its value plummeted. Blockchain forensics suggest similar patterns were used in other alleged scams like LIBRA and M3M3.
Welch’s inclusion in the lawsuit highlights her alleged role in promoting the token based on misleading information about its potential utilities and capabilities, marking a significant development in this ongoing legal battle. Source
