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Cardi B's official X account has sparked concerns after promoting a new memecoin called WAP, which is inspired by her hit song. Blockchain security firm PeckShield flagged the account as potentially compromised, urging caution. Further investigations by Bubblemaps revealed that 60% of the total supply of WAP is controlled by insiders. Additionally, crypto investigators linked Cardi B's wallet to projects with a history of scamming, and within the first 10 hours, $500,000 worth of tokens were dumped. Insiders reportedly made $250,000 from the memecoin in just 12 hours. This has raised serious concerns about the legitimacy of the WAP memecoin.
Cardi B’s WAP Token: Scam Signals Flashing Cardi B's WAP memecoin launch is raising some serious eyebrows. Crypto investigators traced her wallet to projects with serious scamming history, and within the first 10 hours, $500K in tokens was dumped. BubbleMaps flagged 60% of… https://t.co/m53t77gt9l
WAP Memecoin: Cardi B Drops a Crypto Rug? Cardi B’s WAP token just hit the chain, and it’s already looking like a scam-central special. Blockchain OGs linked her wallet to a scammy past, and within 10 hours, $500K of tokens got dumped. Wazz called it planned, not hacked,… https://t.co/phaZh35cNf
Grammy-winning rapper Cardi B appears to have launched a meme coin. And insiders look to have already made $250,000 from it in just 12 hours, according to Bubblemaps. Read more: https://t.co/GHVJX3zNIU
