Cardi B promotes $WAP memecoin; sleuth calls her out for scam

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.

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.

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.

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.

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 Vaibhav Jha

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.