• Harry Welch, identified for the “Hawktoa” meme, says the FBI and Sec have cleared her.
• Regardless of being the face of the coin, she was not appointed in an investor lawsuit.
• Welch says she regrets that she was concerned, disappointing her followers, and ended up utterly with the code.

Harry Welch, the viral web sense behind the “Hawktoa” meme, has spoken publicly about her involvement within the failed Hawk Meme Coin Challenge.

She claims that the FBI and SEC have cleared the fraud after months of investigation into the token’s dramatic rise and fall.

Hawk Token’s Rise and Fall Causes Federal Probes

The Hawk Token was launched on December 4th, 2024 in collaboration with Web3 Launchpad Overhere Restricted. It surged briefly to a $400 million market capitalization earlier than it plunged greater than 90% amid contained in the insider manipulation allegations. Within the days following the crash, traders denounced the staff behind the undertaking coordinating the pump-and-dump scheme.

Associated: 50 Cent X is hacked with the newest Crypto Pump-and-Dump scheme

FBI Interrogation and SEC Probes

In a latest podcast episode, Welch revealed that she was questioned by the FBI. “They interrogated me and requested me questions and every part else associated to code,” Welch mentioned. She added that investigators seemed into communications with individuals related to the undertaking.

Following on, the SEC started one other inquiry, throughout which Welch mentioned he had submitted a telephone name for assessment. She mentioned each businesses finally revealed authorized involvement to her.

“I wasn’t named within the lawsuit, but it surely wasn’t,” she mentioned. “So legally, I wasn’t in bother as a result of I did not do something, and there is proof that I did not do something.”

Investor lawsuits usually are not named

After Hawk Token Crash, a bunch of traders claiming they misplaced about $151,000 has filed lawsuits towards key figures associated to the launch, together with Alex Larson Schultz, Overhere Restricted, Clinton So, and Tuah the Temper Basis. Welch, regardless of being the general public face of Coin, was not appointed as a defendant within the case.

She mentioned she was suggested to not communicate publicly throughout authorized proceedings, so she had been silent up till now.

Associated: Is Harry Welch actually clear? SEC has not confirmed the tip of the Hawk Probe

“I trusted the incorrect individuals.”

Welch mentioned she was approached by a number of crypto groups pitching the firing of tokens tied to viral fame. Regardless of preliminary hesitation, she finally accepted one of many proposals and was unaware of the complexities and authorized dangers concerned.

“I did not have sufficient information of cryptography to become involved in it, and I knew it, however I spoke to it,” Welch defined. “I trusted the incorrect individuals who ruined me.”

She mentioned her involvement was restricted to social media promotions, solely receiving advertising and marketing charges, and added that she “did not make a dime” from the launches and performances of the tokens.

Accomplished with a cryptographic

The 23-year-old influencer now says she’s utterly finished with encryption and will not take pleasure in any extra Web3-related gives. “If anybody presents me with one other thought about one thing cryptography associated, I am going to most likely slap them within the face,” Welch mentioned.

Welch additionally expressed remorse to the followers who misplaced their cash. She acknowledged that her promotion might have inspired others to put money into the undertaking of their future. “I dissatisfied them,” she mentioned.