'Bachelor' Contestant Victoria F's Cosmo Cover Scrapped Over WLM Past

'Bachelor' contestant Victoria F won a major challenge during this week's episode, but she's not gonna reap the rewards today because of her White Lives Matter past.

ICYMI ... Peter Weber's current batch of ladies competed in a fun competition on Monday night's episode, in which they posed for Cosmo in Costa Rica for the chance to be featured in a future issue. Victoria F won, but Cosmo's had a change of heart.

Cosmo's editor-in-chief, Jessica Pels, wrote a letter Monday night explaining why Cosmo is NOT going to publish a digital cover of their March edition -- which would've had Victoria on the cover -- because she once posed in a "White Lives Matter" hat. The "white" was referring to white marlins.

Pels says she's aware the slogan was a pun to raise awareness about over-fishing white marlins -- but she says that's irrelevant ... the slogan is racist.

She says that's why Cosmo's not gonna give Victoria the pleasure of being published on their site. Their print edition is already in production, and the "Bachelor" shoot -- which includes pics of Victoria -- will be inside. Cosmo wasn't aware of the controversy in time to stop its presses.