Crypto Currency Promoted by Cardi B Has Been Traced to Fraudulent Origins

The crypto wallet address shared by American rapper and social media personality Cardi B when her social accounts were stolen to promote WAP tokens on October 8 has been traced back to a seasoned crypto scammer. An initial investigation by anonymous blockchain investigator Wazz has revealed that the wallet address shared by Cardi B is linked to multiple rug pull projects. Crypto security firm Pie Shield suspects Cardi B's X account may have been hacked by a crypto scammer. However, Cardi B recently posted several cat-related tweets, which suggests that the decision to reveal the WAP tokens was pre-planned.Wazz also refuted Pie Shield's speculation that the account may have been hacked.Wazz stated that she was not compromised and that it was premeditated. Whether this is a scam or a legitimate project, members of the crypto community are mindful of the prevalence of scams and frauds associated with celebrity tokens. BubbleMaps, a blockchain data visualization platform, found that 60 percent of WAP offers were bundled and sold at launch. Additionally, it noted that approximately $500,000 worth of tokens had been dumped within 10 hours of the program's launch.