PANews reported on December 21 that crypto influencer Haliey Welch sent a message to fans, affected investors and the wider community, saying that she will fully cooperate and commit to assisting the legal team representing the affected individuals, and help uncover the truth, hold the responsible parties accountable, and resolve the matter. On December 4, a memecoin with Haliey Welch's portrait was launched, and its market value rose to about $500 million, and then fell by 90%. Investors subsequently filed a lawsuit .