The drivers pushed Wallace's vehicle to the front of the field moments before the race got underway.
Wallace is the only Black full-time driver in the Cup Series and has been a leading voice in the sport's commitment to fighting against its history of cozying up to racist symbols, such as the Confederate flag, which was only recently banned by the racing league.
"We have launched an immediate investigation, and will do everything we can to identify the person [s] responsible and eliminate them from the sport".
"Unequivocally, they will be banned from this sport for life. there is no room for this at all and we won't tolerate it, and they won't be here".
"As my mother told me today, 'they are just trying to scare you'".
NASCAR released a statement on Sunday's incident. Only 5000 fans were allowed into the sprawling superspeedway and access to the infield and pit areas was also restricted.
"The U.S. Attorney's office for the Northern District of Alabama, FBI and the Department of Justice Civil Rights Division are reviewing the situation surrounding the noose that was found in Bubba Wallace's garage to determine whether there are violations of federal law".
"We will firmly support as an industry, as a family and a community to make sure Bubba and everyone else in this sport is safe".
The move comes amid calls for racial justice in the wake of the death of George Floyd, a black man, who was killed by a white former police officer in Minneapolis last month.
High above the track an hour prior to the scheduled start of the race was a plane with the Confederate flag and an accompanying message, "Defund NASCAR".
A truck flying confederate flags passes the main entrance to Talladega Superspeedway Sunday, June 21, 2020, in Talladega, Ala.
Gunmen attack Karachi stock exchange, killing at least 3
A policeman guards a vehicle used by alleged gunmen outside the Pakistan Stock Exchange building in Karachi on June 29, 2020. It was not immediately clear how many gunmen were involved in the attack and whether they were inside the building itself.