Cardi B promotes WAP memecoin; Crypto Experts Alarms Investors

Highlights

American rapper Cardi B posts about WAP memecoin and a wallet address on her X account.
Crypto expert warn about suspicious wallet address posted by Cardi B.
Cardi B is currently involved in a dispute with her estranged husband Offset.

A day after American rapper Cardi B promoted controversial cat themed memecoin $WAP on her official X account, several netizens including crypto sleuths called her out for sharing malicious links and wallet addresses on social media.

American Rapper Endorses Cat Memecoin

Artist Cardi B took to her official X account on Tuesday to promote a cat themed memecoin $WAP that is inspired from one of her famous songs. Cardi B also posted a wallet address in her tweet, adding the phrase “even wetter then last time (sic).”

According to several crypto sleuths, the wallet address posted by Cardi B on her official X account has been linked in the past with suspicious activities. Of late, several celebrities have come under criticism for promoting memecoins, that serve no purpose, on their official accounts that often result in token manipulation, insider trading allegations and other fraudulent market related activities.

ZachXBT Alerts Crypto Investors

Crypto sleuth ZachXBT questioned Cardi B whether she has resorted to sharing controversy hit memecoin as she has been demanded spousal support from her estranged husband “Offset”. Recently, Cardi B had held a “space” on X wherein she had lambasted her estranged husband Offset for not offering “even a dime” for child support for their three kids. Cardi B had also claimed that Offset has demanded spousal support from her, after their divorce.

However, this is not the first time, Cardi B has been involved in a memecoin related controversy as back in October last year, she had promoted WAP token and the same wallet address she posted on Tuesday again. Hours after the tweet, blockchain security firm Peckshield had issued an alert, warning users to not interact with the malicious wallet address, adding that it could be tied to a scam.

Later, the Securities and Commodities Authority of the United Arab Emirates (UAE) had launched an investigation into alleged securities violations involving $WAP. The probe came in the wake of a formal complaint from a prominent Dubai-based VC firm and local Emirati investors, who alleged market manipulation and fraud concerning the promotion and trading of WAP.

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Vaibhav Jha

Vaibhav Jha is a seasoned journalist with a decade long experience working for national and international media organizations. His passion is writing and he has a penchant for research and storytelling. As a crypto news editor, Vaibhav comes on board with his journalistic skills and editorial wisdom to ensure every story is vetted, fact checked and reviewed to ensure highest editorial standards.

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