The correct spelling of the phrase "wast the up and up" is actually "wasn't on the up and up." The word "wasn't" is a contraction of "was not." The phrase "on the up and up" means "honest" or "aboveboard." The IPA transcription of the correct pronunciation for "wasn't on the up and up" is /ˈwʌzənt ɒn ði ʌp ən ʌp/. It's important to use the correct spelling and pronunciation to avoid confusion and miscommunication.