X Account of Cardi B Promotes A Meme Coin, A Potential Compromise

The Grammy-award winner and American rapper Belcalis Cephus, popularly known as Cardi B, is the latest celebrity to witness an X account compromise.

Cardi B’s X Account Hacked To Promote Meme Coin, Raises Suspicions

What happened: American rapper Cardi B’s X account was found promoting a meme coin on Monday, sparking concerns among fans and the crypto community.

The hip-hop star’s X account posted a video about the meme coin, highlighting a link for potential investors to engage with. However, on-chain security company PeckShield raised concerns regarding the legitimacy of the meme token.

According to PeckShield, Cardi B’s account might be compromised, and the post could be a potential attempt to scam users. The company warned against interaction with any link on the post.

Cardi B's X account seems to be compromised. Be cautious when interacting with any address/link in the post. ? pic.twitter.com/dL3NNhSL6K

— PeckShieldAlert (@PeckShieldAlert) October 8, 2024

The meme coin, inspired by Cardi B’s hit song with Megan Thee Stallion, launched on Monday, boasting a cat-theme. The WAP token, along with its website and official X account, went live on Monday, October 7.

On the same day, the project posted a video on its X handle, showcasing the rapper’s engagement with the WAP token. Moreover, Cardi B’s promotion follows another rapper, Iggy Azalea, who launched her meme coin, MOTHER, on May 28, 2024.

Cardi B's X account is now promoting a meme coin, despite her previous skepticism towards crypto. The WAP token launched its website, X account and began posting about Cardi B's involvement in the project.

Her hit song with Megan Thee Stallion inspired this cat-themed meme token, which launched on Monday. pic.twitter.com/BDvJqeqh0u

— Tech Report (@techreport) October 8, 2024

Amid concerns of a possible hack of Cardi B’s account, the WAP token post remained on the page even after over eight hours of posting.

While some people still believe the post is genuine, pointing out the rapper’s other social media accounts with normal posts, others remain skeptical. The WAP token promotional video indicates a professional plan and execution of the project by Cardi B's team.

The meme token has shown a strong presence since its launch, with data from Dexscreener showing WAP boasts a market cap of $23.98 million. Additionally, the token's price has skyrocketed by over 787%, with over $14 million in trade volume.