Central African Republic President’s Memecoin: Legit or Hack? Deepfake Alerts Fuel Doubts
Central African Republic President’s Memecoin – On February 9, the Central African Republic (CAR) President Faustin-Archange Touadéra announced a new memecoin project on X (formerly Twitter), sparking immediate controversy. The memecoin, launched on the Solana-based launchpad Pump.fun, quickly surged in value, reaching a peak market capitalization of $530 million. Despite the apparent success of the token, several deepfake detection tools flagged the announcement video featuring the president as suspicious, raising questions about its authenticity.
AI Deepfake Detection Flags Video as Suspicious
Two leading deepfake AI detection models have raised concerns about the legitimacy of the video shared by President Touadéra. The video was uploaded alongside a tweet about the memecoin, described as an “experiment” to support national development and put the country on the international stage. One deepfake checker on Deepware flagged the video as suspicious, while another tool showed an 82% chance it was a deepfake. However, other models, including Avatrify and Deepware’s own checker, found no issues with the video.
Skepticism Surrounding the Memecoin’s Legitimacy
Questions have also arisen about the authenticity of the memecoin. Critics suggest that the official X account of President Touadéra might have been hacked, pointing to unusual details such as the domain registration for the memecoin’s official website. The domain, registered just three days prior to the announcement, was flagged by Yokai Ryujin, the founder of Unrevealed XYZ, who noted it did not align with the actions of a national leader. Despite the suspicious registration, the car.meme website remains active as of February 10.
Adding to the mystery, the memecoin’s Twitter account, @Carmeme_news, was suspended by X, though the president confirmed he was working to restore the account.
Tokenomics and Distribution
Despite the controversy, some details about the CAR memecoin’s tokenomics have been made public. According to Solscan data, the distribution of the token’s total supply is divided among several wallets. 33.31% of the tokens are held in one wallet, and another 25% is held in a second wallet. Additionally, 9.81% and 8.39% are in two separate wallets, one of which may be earmarked for charity. However, a 20% portion promised to liquidity has yet to be added to any liquidity pool.
Central African Republic’s Crypto History
This new memecoin is not the first time the Central African Republic has ventured into the world of cryptocurrency. In April 2022, the country made headlines by adopting Bitcoin as legal tender, a move that was soon followed by the introduction of Sango Coin, a cryptocurrency designed to incentivize foreign investment by offering citizenship to token holders. However, in March 2023, the CAR repealed the legislation granting Bitcoin legal tender status, following significant backlash from other members of the Economic and Monetary Community of Central Africa.
The launch of the memecoin has raised more questions than answers, with many speculating that it could be part of a larger scam or hack. However, the rapid rise in its market cap and the controversy surrounding it make it one of the most intriguing developments in the world of cryptocurrencies this year.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
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