'Hawk Tuah' girl says FBI, SEC cleared her of legal wrongdoing in memecoin fiasco

Hailey Welch, known for her viral "Hawk Tuah" catchphrase and subsequent foray into the memecoin space, said that the FBI has cleared her of any illegal involvement related to the cryptocurrency.

On Dec. 4, Welch's team launched the HAWK memecoin with web3 launchpad platform OverHere Limited.

Launched during a period of widespread memecoin frenzy, HAWK's market capitalization soared to $400 million before plummeting over 90%. The price collapse prompted multiple investors to allege that the memecoin launch was manipulated by insiders. 

In her recent podcast uploaded Wednesday, Welch said she was questioned by the FBI after they visited her grandmother's house in the days following the memecoin's collapse.

"They interrogated me, asking me questions and everything else related to crypto, [about] all the people in my phone I've talked to about crypto," Welch said. "So they cleared me. I was good to go. And then the SEC picked it up."

Welch stated she was not directly questioned by the SEC but provided her phone for their investigation, after which she was also cleared.

"I wasn't named in the lawsuit, none of that," Welch added. "So legally I was not in any trouble [because] I didn't do anything. And I have proof that I didn't do anything." The "Hawk Tuah" meme originator said she kept her silence as she was advised not to speak on the memecoin due to legal matters.

Days after HAWK's launch and collapse, a dozen of investors that claim to have collectively lost around $151,000 filed a lawsuit against Alex Larson Schultz, Overhere, Clinton So and the Tuah the Mood Foundation for launching and promoting the token as an unregistered security. Welch was not named as a defendant.

Done with crypto

In the podcast episode, Welch explained that she was approached by multiple teams pitching the idea of launching her own cryptocurrency. She said she was initially skeptical but eventually gave in to one of the offers.

Welch claimed she did not know enough about how cryptocurrencies work, even during and after the launch of HAWK, and was essentially just the face of the memecoin that was paid to promote the token.

"I did not have enough knowledge about crypto to be getting involved with it and I knew that, but I got talked into it," Welch said. "I trusted the wrong people that screwed me."

Welch further explained that she was only paid a marketing fee for promoting the token on social media platform X, and "did not make a dime" from the memecoin itself.

The 23-year-old internet personality again expressed remorse for having caused financial damages to her fans, saying she "let them down" despite their trust in a project she endorsed.

When asked if she would do another crypto project, Welch said, "If someone ever presents me another idea about anything crypto-related, I'll probably smack them in the face."