Cardi B Accused of Fraud After Promoting Controversial $WAP Memecoin

Rapper Cardi B is facing intense criticism after promoting the controversial memecoin $WAP, amid allegations of fraud and market manipulation in the crypto space.

Cardi B Accused Of Fraud After Promoting Controversial $wap Memecoin

Famous American rapper Cardi B is facing a wave of criticism from the online community and crypto investigators after promoting the memecoin $WAP on her official X (formerly Twitter) account.

On Tuesday, Cardi B shared a post on X promoting $WAP – a cat-themed memecoin inspired by her hit song of the same name. Alongside the post, she also included a crypto wallet address with the suggestive caption: “even wetter than last time (sic).”

Cardi B Tweet On X
Cardi B Tweet On X

However, several blockchain analysts, including renowned crypto sleuth ZachXBT, quickly pointed out that the wallet address had previously been linked to suspicious activities. ZachXBT went further to question whether Cardi B’s decision to promote the controversial token stemmed from financial difficulties following her separation from Offset, her estranged husband. Recently, Cardi B hosted a Twitter Space in which she publicly criticized Offset for failing to provide child support for their three children, while also revealing that he had allegedly demanded spousal support from her after their divorce.

Notably, this is not Cardi B’s first brush with controversy involving $WAP. Back in October last year, she had also promoted the same token and posted the same wallet address. Just hours later, blockchain security firm PeckShield issued a warning urging users to avoid interacting with the wallet, citing its potential ties to a scam.

The situation escalated further when the Securities and Commodities Authority of the United Arab Emirates (UAE) launched an investigation into alleged securities violations related to $WAP. The probe followed a formal complaint from a prominent Dubai-based venture capital firm and local Emirati investors, who accused the project of market manipulation and fraudulent promotion.

Recently, a growing number of celebrities have come under fire for using their platforms to promote worthless memecoins, sparking concerns about market manipulation, insider trading, and fraudulent activities within the crypto space.

Love

0.0/5

Love

Latest

Binance.us Accused Of Political Favoritism After Listing Trump Family’s Usd1 Token

News | Editor Choice | Policy & Regulations

Binance.US Accused of Political Favoritism After Listing Trump Family’s USD1 Token

Binance.US is facing a wave of fierce criticism after listing the Trump family’s USD1 stablecoin, just a week after Donald Trump’s controversial pardon of Changpeng Zhao — a move many see as a “political favor” between the White House and the crypto world.

Spacex Moves $31 Million In Bitcoin, What Is Elon Musk Planning

News | Bitcoin | Editor Choice

SpaceX Moves $31 Million in Bitcoin, What Is Elon Musk Planning?

SpaceX’s sudden $31 million Bitcoin transfer within just one week has sent shockwaves through the market, sparking speculation that Elon Musk may be preparing for a mysterious strategic move.

21shares Files For Hype Etf, While Bitwise’s Solana Etf Records

News | Altcoin | Editor Choice

21Shares Files for HYPE ETF, While Bitwise’s Solana ETF Records

The crypto ETF market is heating up as 21Shares and Bitwise roll out new products, signaling Wall Street’s growing interest in altcoins.

Bitcoin Eyes A Hopeful November Amid Fed Division On December Rate Cut

News | Bitcoin | Editor Choice

Bitcoin Eyes a Hopeful November Amid Fed Division on December Rate Cut

Following the Federal Reserve’s widely expected rate cut, the crypto market has yet to show signs of recovery as internal divisions over a potential December easing weigh on sentiment, making Bitcoin’s short-term outlook more cautious than ever.

Ethereum’s Key Changes After The Fusaka Upgrade

News | Altcoin | Editor Choice

Ethereum’s Key Changes After the Fusaka Upgrade

The Fusaka upgrade marks a pivotal step in Ethereum’s journey toward large-scale scalability, promising faster transaction speeds, enhanced security, and laying the foundation for the next explosive phase of the world’s leading blockchain.

Screenshot 2025 10 20 091338