The WAP token promoted by the famous American rapper Cardi B is suspected to originate from a scam project

ChainCatcher news, according to Cointelegraph, the WAP token promoted by the famous American rapper Cardi B on the social platform X has sparked controversy. Blockchain analyst Wazz's preliminary investigation shows that the wallet address disclosed by Cardi B is associated with multiple rug pull projects. Blockchain security company PeckShield suspects that Cardi B's X account may have been hacked.

However, Wazz refuted PeckShield's speculation, stating that her account has not been compromised, "This is a planned action, with multiple promotions, cartoons, and previous tweets as evidence. Additionally, you misread the liquidity pool; the actual liquidity is $700,000."

Blockchain data visualization platform BubbleMaps found that 60% of the WAP token supply was bundled at the time of issuance. Furthermore, within 10 hours of the project's launch, approximately $500,000 worth of tokens had been sold off. BubbleMaps also pointed out, "To evade tracking, all wallets involved in the bundling transferred their tokens one-to-one to brand new addresses 4 hours ago."