Mother Iggy

The crypto wallet address shared by American A-list celebrity rapper Cardi B while promoting WAP tokens has been traced back to a seasoned crypto scammer.
On Oct. 8, Cardi B’s official X account shared a promotional post for WAP, a cat-themed memecoin and abbreviation of “Wet Ass Pussy.” Along with a video of WAP’s mascot, an animated cat, Cardi B shared a wallet address that was flagged by crypto investigators.
<figure>
 <img alt="Artists, Memecoin, Rug Pulls" src="https://s3.cointelegraph.com/uploads/2024-10/01926bb6-1aa3-75c0-95c9-4cf89c846557" title="">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/iamcardib/status/1843429101518172618" rel="null" target="null" text="null" title="https://x.com/iamcardib/status/1843429101518172618">Cardi B</a>
 </figcaption>
</figure>
Pseudonymous blockchain sleuth Wazz’s initial investigation revealed that Cardi B’s wallet address had links to numerous rug pull projects. 
Crypto investigation firm PeckShield suspected that a crypto scammer had hacked Cardi B’s X account.
<h2 id="did-cardi-b-pre-plan-wap-memecoin-launch">Did Cardi B pre-plan WAP memecoin launch?</h2>
However, Cardi B recently posted a few cat-related tweets, which suggests that the decision to reveal the WAP token was pre-planned.&nbsp;
<figure>
 <img alt="Artists, Memecoin, Rug Pulls" src="https://s3.cointelegraph.com/uploads/2024-10/01926bb7-8239-7863-9efb-5305ecfcaf6b" title="">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/iamcardib/status/1843358861920756184" rel="null" target="null" text="null" title="https://x.com/iamcardib/status/1843358861920756184">Cardi B</a>
 </figcaption>
</figure>
Wazz also dismissed Peckshield’s speculation about a possible account hack. The blockchain sleuth told Peckshield:
<blockquote>
 “She’s not compromised, it was planned, multiple shills/cartoon/prev tweets. Also, you’re viewing the wrong pool. It has 700K liq.”
</blockquote>
Irrespective of whether it is a scam or a legitimate project, crypto community members have noted the prevalence of scams and rug pulls associated with celebrity tokens.&nbsp;
BubbleMaps, a blockchain data visualization platform, found that 60% of the WAP supply was bundled at launch. Moreover, it noted that around $500,000 worth of tokens had already been dumped within 10 hours of the project’s launch.
<figure>
 <img alt="Artists, Memecoin, Rug Pulls" src="https://s3.cointelegraph.com/uploads/2024-10/01926be8-f3f6-7c6d-ac13-6c8e153ab7c0" title="">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/bubblemaps/status/1843578164297248849" rel="null" target="null" text="null" title="https://x.com/bubblemaps/status/1843578164297248849">Bubblemaps</a>
 </figcaption>
</figure>
<h2 id="cardi-b-project-suspected-of-rug-pull">Cardi B project suspected of rug pull</h2>
According to Bubblemaps, 15 crypto addresses were previously funded by a crypto exchange wallet. The same address transferred its WAP holdings, spread across roughly 100 wallets. The firm added:
<blockquote>
 “In an attempt to hide from Bubblemaps, all wallets involved in the bundling transferred their tokens one-to-one to brand-new addresses 4 hours ago. Good try.”
</blockquote>
Fellow A-lister and rapper Iggy Azalea, who promotes her version of a celebrity memecoin, Mother Iggy (MOTHER), took a dig at Cardi B’s token reveal.
<figure>
 <img alt="Artists, Memecoin, Rug Pulls" src="https://s3.cointelegraph.com/uploads/2024-10/01926bbb-96e8-7f82-b87f-aea47c94d341" title="">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/IGGYAZALEA/status/1843439149644427286" rel="null" target="null" text="null" title="https://x.com/IGGYAZALEA/status/1843439149644427286">Iggy Azalea</a>
 </figcaption>
</figure>
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/sahil-arora-banned-celebrity-memecoin-scams" rel="null" target="null" text="null" title="null">Celebrity memecoin promoter Sahil Arora banned by X</a>
Some X users also suspected the return of Sahil Arora, the mastermind behind the launch of numerous celebrity memecoins.
In August, crypto investigator ZachXBT estimated that Sahil earned netted over $3 million in 2024 from launching a deluge of celebrity memecoins.
<figure>
 <img alt="Artists, Memecoin, Rug Pulls" src="https://s3.cointelegraph.com/uploads/2024-10/01926bbb-ed06-718c-9640-98ca7faca75f" title="">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/zachxbt/status/1823760586997686388" rel="null" target="null" text="null" title="https://x.com/zachxbt/status/1823760586997686388">ZachXBT</a>
 </figcaption>
</figure>
Arora has been accused of perpetrating social engineering scams and other fraudulent activity by a wide range of people, including celebrities and crypto industry players.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/anti-aging-multi-millionaire-bryan-johnson-almost-devoted-life-crypto/" rel="null" target="null" text="null" title="null">Anti-aging tycoon Bryan Johnson almost devoted his life to crypto</a>

WAP crypto token promoted by Cardi B traced to scam origins

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