PANews reported on May 21 that according to The Block, crypto influencer Hailey Welch revealed in a podcast that the FBI and SEC have closed the investigation into the Meme coin HAWK incident in which she participated, confirming that she had no illegal behavior. The token was launched by the OverHere Limited platform on December 4, 2024. Its market value soared to $400 million before plummeting by more than 90%, leading to a class action lawsuit by investors. Welch said that the FBI had inquired at her grandmother's house and reviewed her mobile phone communication records, and the SEC followed up with an investigation but did not directly interview her. She emphasized that she only charged social media promotion fees, did not participate in the operation of the token, and presented a certificate of innocence. Previously, 12 investors had filed a lawsuit against the project party, accusing it of issuing unregistered securities, and Welch was not listed as a defendant. The 23-year-old Welch admitted that he trusted others due to his lack of knowledge of cryptocurrency, expressed regret for the losses of his fans, and declared that "if someone proposes a crypto project again, I might slap them in the face." After the collapse of the HAWK token, OverHere Limited and other related parties were accused of market manipulation, and the case is still under trial.