Cardi B, took to her X account to promote a new meme coin named after her iconic track.<\/p>\n
However, there have been concerns surrounding the promotion, with security experts suggesting the account may have been compromised.<\/p>\n
The rapper, who has been in the news lately after claims emerged that she had undergone surgery, set off events with an October 7 post<\/a> on X with a picture of her holding a cat.<\/p>\n In the post, Cardi B, whose real name is Belcalis Marlenis Almanzar, referred to the cat as a \u201cnew family member.\u201d She further asked her followers to guess its name.<\/p>\n Hours later, she made another post stating, \u201cHer name is $WAP.\u201d The tweet also contained a wallet address as well as a brief animated video seemingly promoting a meme coin.<\/p>\n The promotion quickly caught the attention of the crypto community, with many voicing concerns about its legitimacy.<\/p>\n Blockchain security firm Peckshield was among the first to react, informing<\/a> users that the rapper\u2019s account may have been compromised to promote a possible scam.<\/p>\n It also urged her followers to exercise caution when interacting with her posts. However, some X users dismissed the warning, claiming the promotion was planned<\/a> and deliberate.<\/p>\n Adding to the unease around the launch of $WAP, crypto sleuth CryptoRugMunch highlighted<\/a> a troubling trend: the top 200 wallets holding the coin\u2019s supply were newly created, with most funded by larger wallets within the project.<\/p>\n The setup sparked fears of a potential rug pull<\/a>, a scam in which developers drain liquidity and leave investors with worthless tokens.<\/p>\n At the time of writing, $WAP had amassed a total liquidity of $548,000 and a fully diluted valuation (FDV) of $17.6 million.<\/p>\n Additionally, the coin\u2019s price stood at $0.01766, showing a spike in activity with over 20,000 transactions in just a few hours, according to data from Dexscreener. Despite this, questions around its legitimacy still persist, with some wondering<\/a> whether it will end up like other celebrity-backed meme coins that turned out to be scams.<\/p>\n The apparent involvement of prominent crypto influencer Ansem also added fuel to the debate after he reacted<\/a> to Cardi B\u2019s initial X post asking followers to guess her new cat\u2019s name. Ansem, who boasts more than half a million followers on X, responded by calling it \u201cCAT SZN,\u201d in a post that has been viewed more than 141,000 times.<\/p>\n The influencer is no stranger to controversy. Recently, he found himself at the center of a heated debate with blockchain investigator ZachXBT, who accused him of promoting low-cap meme coins to his followers. The detective claimed the coins often leave retail investors holding the bag when their value plummets.<\/p>\n The post Cardi B\u2019s X Account Promotes Meme Coin: Be Careful, Warning Signs Appear<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Cardi B, took to her X account to promote a new meme coin named after her iconic track. However, there have been concerns surrounding the promotion, with security experts suggesting the account may have been compromised. Cardi B Shares $WAP Video The rapper, who has been in the news lately after claims emerged that she […]<\/p>\n","protected":false},"author":0,"featured_media":12474,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-12473","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/12473"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12473"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/12473\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/12474"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Possible Rug Pull?<\/h2>\n