The driver recently led the calls to ban the confederate flag from NASCAR events due to its controversial routes, which the organisation proceeded to do - much to the objection of Wallace's fellow drivers.
James wanted to let Wallace know that he is not alone in this fight against racism while also commending NASCAR for taking the issue seriously.
It has been a little more than a week since NASCAR instituted a ban on Confederate flags at its facilities.
NASCAR was among the top-three trending topics on Twitter in the US on Monday, with supporters of Wallace using the hashtag #IStandWithBubba.
At a race in Virginia in May 2020, Wallace wore a shirt that said "I Can't Breathe" over his firesuit, and his auto featured a Black Lives Matter paint scheme.
"We are angry and outraged, and can not state strongly enough how seriously we take this heinous act", the statement read.
That didn't stop a plane flying the controversial flag over the Talladega Superspeedway in Lincoln, Alabama on the weekend. Bringing people together around a love for racing and the community that it creates is what makes our fans and sport special.
"Nothing is more important and we will not be deterred by the reprehensible actions of those who seek to spread hate".
"As my mother told me today, 'they are just trying to scare you'".
"This will not break me, I will not give in nor will I back down". "I am so incredibly proud of this man for standing up and helping to push real change!"
The sport has released a statement, saying: "Late this afternoon, NASCAR was made aware that a noose was found in the garage stall of the 43 team". NASCAR stated that they are launching an investigation into the noose incident.