PANews reported on May 21st that according to The Block, crypto influencer Hailey Welch revealed in a podcast that the FBI and SEC have concluded their investigation into the HAWK meme coin event she was involved in, confirming no illegal activities. The token was launched by OverHere Limited on December 4, 2024, with its market value soaring to $400 million before plummeting over 90%, leading to a collective investor lawsuit. Welch stated that the FBI had questioned her at her grandmother's house and reviewed her phone communication records, with the SEC subsequently following up on the investigation without direct questioning. She emphasized that she only received social media promotion fees and was not involved in token operations, and provided a certificate of non-responsibility. Previously, 12 investors had initiated a lawsuit against the project team, alleging the issuance of unregistered securities, with Welch not listed as a defendant.
The 23-year-old Welch admitted to blindly trusting others due to her lack of cryptocurrency knowledge, expressed regret for fan losses, and claimed "if anyone proposes another crypto project, I might slap them". After the HAWK token's collapse, OverHere Limited and associated parties were accused of market manipulation, with the case still under review.
