Did the Central African Republic launch a memecoin?
fake coin?
The official X account of the President of the Central African Republic (CAR) announced the launch of the CAR memecoin, which, according to authorities, is an experiment to explore the impact of digital assets on national development. However, the crypto community suspects that it might be nothing more than a scam.
"Today, we are launching CAR — an experiment designed to show how something as simple as a meme can unite people, support national development, and put the Central African Republic on the world stage in a unique way," read the statement from President Faustin-Archange Touadéra’s account.
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According to Solana launchpad pump.fun, the memecoin is positioned as "the official meme of the Central African Republic." Later, a video announcement featuring President Touadéra himself was shared on X. However, two AI-based deepfake detection models have indicated a high probability that the video was generated using artificial intelligence.
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Meanwhile, the dedicated X account created for daily updates and announcements about the memecoin was suspended. The President’s official account stated that the project team is working with the platform to restore access.
Suspicions of fraud
Following the announcement, several crypto analysts raised concerns about the legitimacy of the project. "Do not buy CAR, it’s a scam," wrote X user Skynet Insights. According to him, 80% of the total token supply is controlled by a small number of wallets, and the creators have already cashed out over $15 million while still holding around 70% of the supply.
Unrevealed XYZ founder Yokai Ryujin also questioned the legitimacy of the project, pointing out that the memecoin’s website was registered using the budget domain service Namecheap.com and was launched at 1:00 AM local time. Later, Namecheap suspended the project's domain.
Meanwhile, Trump’s memecoin has dropped 33% over the past week.
