Despite denying the Iggy Azalea sex tape issue on social media last Friday, the 'Black Widow' singer's lawyers reportedly made a reluctant admission of the alleged video right after.

The 24-year-old rapper wrote on Twitter last Friday, "I don't have a sex tape but for the record... Anyone who releases or attempts to make profit off someone else's intimate moments against their will is a sex offender."

She continued, "[And] it honestly makes me sick to see the media encourage any other attitude towards those sorts of people, we should want to protect our women and I really hope that America will follow Europe and their laws to better protect [people's] privacy and fundamental rights."

According to an update by TMZ, however, the Australian rapper's lawyers admitted that the graphic video could possibly exist. They also claimed that the clip could have been shot without her knowledge.

Aside from being filmed secretly, there is also a possibility that she could be under 18 in the video, putting a legal constraint on porn mogul Steven Hirsch's plan to release the clip.

Vivid Entertainment's CEO reportedly offered a multi-million deal for Iggy Azalea's sex tape.

"I believe there would be a huge demand for her sex tape," Hirsch said in a press release. "Iggy has proved that she's an amazing talent...We are conducting our due diligence and if we are satisfied with our review, we will definitely try to make a deal to distribute the tape."

According to the update made to TMZ by Azalea's lawyers, the video could have been from a "spurned business suitor" (which the Hollywood news outlet referred to as the ex-boyfriend) who wanted to damage her image and budding career.

With this new development, could Iggy Azalea's sex tape really be genuine? If it is, then releasing the video could end up in a messy lawsuit.