The first scam of the World Cup? WCUP surged to a market cap of approximately $50 million, with 95% of its supply controlled by a single entity

Odaily Planet Daily News: According to monitoring by Bubblemaps, the FIFA-related token WCUP, which was launched yesterday, surged to a market cap of approximately $50 million at its peak. 95% of its supply was immediately seized by over 30 new wallets at the opening. These wallets were funded by multiple centralized exchanges within half an hour before the launch, had no previous on-chain history, and subsequently distributed the tokens to over 2,500 new addresses via Uniswap Router.

Bubblemaps pointed out that the project's documentation only vaguely mentions presale and partner allocations, and no direct connection to the team was found on-chain. However, such a high level of concentration, combined with undisclosed paid KOL promotional arrangements, poses significant risks.