The CAR token skyrocketed, however deepfake warnings and a sudden web site takedown have raised questions on whether or not that is really a government-backed initiative.
On Feb. 10, the Central African Republic made an sudden transfer by saying the launch of its personal memecoin, CAR.
The announcement got here instantly from the official X account of President Faustin-Archange Touadéra, who described the undertaking as an experiment geared toward uniting folks, supporting nationwide improvement, and placing CAR within the world highlight.
“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,” Touadéra’s official X account posted on Feb. 10.
He linked the initiative to the nation’s earlier pro-crypto stance, noting that he was the second world chief to undertake Bitcoin (BTC) as authorized tender.
The memecoin was launched on the Solana (SOL) primarily based Pump.enjoyable platform and initially noticed an amazing market response. Inside hours, its valuation surged as merchants rushed to take part in what was seen because the first-ever nationwide memecoin.
Nonetheless, whereas the thought of a government-backed meme coin generated big curiosity, skepticism rapidly adopted. Inside hours, deepfake allegations, web site suspensions, and questionable area registrations started casting doubt on the undertaking.
The announcement and speedy crimson flags
Skepticism over the memecoin emerged after AI detection instruments analyzed the president’s announcement video.
One deepfake detection mannequin, Seferbekov, discovered an 82% chance that the video was AI-generated, whereas one other, Ensemble, additionally flagged it as suspicious. Nonetheless, two different AI instruments, Avatrify and Deepware’s checker, didn’t detect indicators of manipulation.
The controversy deepened when the memecoin’s official X account, created to offer updates on the undertaking, was suspended with out clarification. Hours later, the president’s X account acknowledged the suspension and acknowledged that they have been working with X to revive it.
As scrutiny intensified, Yokai Ryujin, founding father of UnrevealedXYZ, identified irregularities in how the CAR memecoin’s area was registered.
He famous that the automotive.meme area was registered on “Namecheap”, a budget-friendly area supplier, solely three days earlier than the announcement—a transfer he described as extremely uncharacteristic for a government-backed initiative.
Shortly after, Namecheap suspended the web site, confirming that it had been flagged as an “abusive service.”
Ryujin, who had warned in regards to the undertaking early on, posted on X that the takedown validated considerations. “I tried to warn you about this from the start, and I’ll keep fighting for you,” he wrote, urging the crypto neighborhood to stay cautious.
Market exercise and a risky debut
Regardless of the controversy, the CAR token surged upon launch, reaching a peak valuation of $527 million. Nonetheless, as of this writing on Feb. 10, the token’s worth has dropped to $460 million.
The timing of this controversy is essential, because the crypto world has just lately seen a spike in fraudulent meme coin launches.
Just some days in the past, scammers hijacked the X accounts of former Malaysian Prime Minister Mahathir Mohamad and Solana DEX aggregator Jupiter to advertise fraudulent memecoins.
The similarities in ways—sudden high-profile endorsements, speedy web site takedowns, and sudden social media suspensions—have led many to consider that CAR may be one other high-profile deception.
Nonetheless, at this stage, there is no such thing as a clear affirmation on whether or not CAR is an official government-backed initiative or an elaborate rip-off. Crypto.information is actively investigating this growing story and can present updates as extra data emerges.
