Cardi B, Yeni Memecoin's Advertisement Made, Blockchain Experts Warned - Coin Bulletin

Famous rapper Cardi B's X account advertised the meme coin WAP late Monday night, but blockchain security company PeckShield expressed concerns about this token.

PeckShield, who wrote "Cardi B's X account seems to have been compromised", said "Be careful** when interacting with the address or links mentioned in the post."

The WAP token, created in homage to Cardi B's famous song, was released on Monday along with an official website and her own X account. In response to a post where Iggy Azalea, another rapper, referred to WAP as a scam after introducing her own token MOTHER, Cardi B shared a video introducing her cat-themed token.

Could the account have been hacked?

Usually, fake promotion posts are quickly removed after famous accounts are hacked, but the memecoin promotion is still on Cardi B's official account five hours after being sent. Additionally, another post was shared from the account that includes an image of Cardi B unrelated to memecoins.

According to Dexscreener data, the current market value of the WAP token is around 17 million dollars.

This year, meme coins supported by celebrities attracted great attention in the early stages, but most of them did not show significant progress. For this reason, many investors believe that these initiatives are only launched for financial purposes.