A cryptocurrency token that gained attention through its association with former Ghanaian President John Agyekum Kufuor is at the centre of rug pull allegations. Blockchain analytics firm Bubblemaps has identified a cluster of wallets linked to the CWU token that sold approximately $600,000 worth of the digital asset while still controlling an estimated 85% of the total supply.
According to Bubblemaps, over 200 newly created wallets, funded in batches before the token’s launch on April 9, appeared interconnected and may be controlled by a single entity. These wallets claimed most of the CWU supply shortly after trading began, raising concerns about concentrated ownership. The project’s public claims of a 90% circulating supply conflict sharply with on-chain data showing 85–90% still held by a coordinated wallet cluster.
The token had been promoted with Kufuor described as an official adviser. CWU reached a market capitalisation near $120 million and a peak price of about $0.135 before falling toward $0.08. The controversy intensified after Bubblemaps pointed out that the main promotional account claimed affiliation with a UAE royal family member, who had only joined X (Twitter) in March 2026 and began posting shortly before the launch.
The pattern of insider sales while retaining overwhelming supply is a classic rug pull setup, according to analysts. While no regulatory finding has been made against the project, the case underscores the risks of tokens that rely on political or celebrity endorsements without transparent, distributed tokenomics. On-chain forensics continue to expose gaps between marketing narratives and actual wallet data.
