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

Bubblemaps noted that the project's documentation only vaguely mentions pre-sale and partner allocations, with no on-chain evidence directly linking to the team. However, such a high degree of concentration, combined with undisclosed paid KOL promotional arrangements, poses a significant risk.