Wallace, a third-year political science student at UCLA, has sought the protection of campus police after she received several calls and emails from people threatening revenge for her recording the tirade, titled "Asians in the Library".
"She received numerous phone messages and emails. Police are investigating to determine whether a crime was committed," the New York Daily News quoted campus spokesman Phil Hampton, as saying.
Wallace reportedly told her political science professor that she was terrified after the locations of her upcoming exams were posted online, the paper said.
In the video, posted last Friday, Wallace fumes about "the hordes of Asian people" at UCLA.
She also trashes Asians for talking on the phone in the library.
"The problem is these hordes of Asian people that UCLA accepts into our school every single year, which is fine. But if you're going to come to UCLA, then use American manners," Wallace said in the video.
The video had sparked an immediate reaction at UCLA, where 37 percent of the school's 26,000 undergraduates are Asian.
Wallace has since removed her video from YouTube, and issued an apology to the UCLA student newspaper
"Clearly the original video posted by me was inappropriate. I cannot explain what possessed me to approach the subject as I did, and if I could undo it, I would," she said in the statement.
"I'd like to offer my apology to the entire UCLA campus. For those who cannot find it within them to accept my apology, I understand," she added.
UCLA officials had earlier said that the university was looking into possible disciplinary action against Wallace.
