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

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