American rapper Cardi B has seemingly endorsed a new cryptocurrency meme coin on her X account leaving fans are debating whether she has been hacked.
The singer, who is famous for her song W.A.P. with Megan Thee Stallion, shared the token on Monday (Oct. 7). It is fittingly called $WAP.
The animated video features a damp black cat that ventures into a club while WAP plays. It joins an animated version of Cardi at a casino table.
The token is already performing well, according to Dexscreener, a platform that tracks decentralized exchanges. At the time of writing, $WAP has a market capitalization of $21.1 million and more than $600,000 in liquidity
Her name is $WAP
CA:Bz7vVzQhm2KMW1XgcrDruYega1MiwrAs1DQysrx4tFkp pic.twitter.com/BDvJqeqh0u— Cardi B (@iamcardib) October 7, 2024
Has Cardi B been hacked?
Fans and crypto experts alike have expressed their concerns about the meme token. “Either somebody hacked her account, or she hired the wrong team,” one X user said.
Security firm PeckShield also posted: Be cautious when interacting with any address/link in the post.”
Celebrity memecoins have become more and more common recently. Fellow rapper Iggy Azalea launched her own token, $MOTHER, earlier this year. She posted less than an hour after $WAP launched: “if y’all fall for this scam then I can’t help you”.
Earlier this year, the Australian Competition and Consumer Commission (ACCC) found that well over half of crypto ads on Facebook were scams or broke advertising policy.
Many involved deep fakes of celebs like Nicole Kidman and Mel Gibson endorsing crypto. Businessman Elon Musk and the UK’s Prime Minister Kier Starmer have also fallen victim to being used in these scam videos.
However, in Cardi’s case, her account has shown no other signs of being hacked since the clip was posted more than 11 hours ago. Her label Atlantic Records has not yet confirmed or denied if her involvement is genuine.
Feature image credit: @iamcardib on X
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