On May 21, Internet celebrity Harry Welch (also known as "Hawk tuah girl") revealed in her latest podcast that she had been investigated by the FBI and the SEC for promoting HAWK memecoin. The memein quickly plunged 90% after its launch, and was called an "exit scam" by many cryptocurrency commentators. Welch said the investigation agency checked her mobile phone and questioned it, but ultimately determined that she was not at fault. She admitted that she lacked knowledge of cryptocurrencies,"trusted the wrong person" and felt guilty about causing losses to her fans 'investment. Welch said she only charged marketing fees and did not profit from the coin itself.