ChainThink reports that, according to a post on X by the on-chain data analysis platform Bubblemaps, the FIFA World Cup-themed token WCUP appears to be involved in severe wallet bundling manipulation.
After the token launched yesterday, its market cap briefly surged to $50 million, during which several KOLs promoted it through paid partnerships, most of which were not publicly disclosed.
Bubblemaps on-chain data shows that approximately 30 minutes before WCUP’s launch, more than 30 previously inactive wallets with no prior on-chain history simultaneously received funds via CEXs and purchased approximately 95% of the circulating supply at token launch. Subsequently, these wallets attempted to obscure their connectivity by using Uniswap Router commands to distribute the tokens across multiple addresses.