Central African Republic’s Memecoin Launch Sparks Worries About Deepfake and Fraud Issues
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Central African Republic President Faustin-Archange Touadéra has made waves by introducing the official meme coin, CAR, on February 10.

However, concerns have been raised about the authenticity of the meme coin due to AI deepfake detection tools and suspicious activities in the domain registration process.

President Touadéra took to his official X account to announce the launch of the CAR meme coin, emphasizing its ability to bring people together, support national development, and showcase the Central African Republic on a global scale uniquely.

In a follow-up video, the president reiterated his support for crypto and highlighted the country's pivotal decision to adopt Bitcoin as legal tender earlier in 2022, showcasing their faith in blockchain technology and community-driven efforts.

Despite the positive messaging, doubts arose when AI models flagged the video as potentially manipulated. While some models raised concerns about deepfake involvement, others did not detect any issues, leading to a divided response in the community regarding the video's authenticity.

Further raising doubts, Yokai Ryujin from UnrevealedXYZ pointed out irregularities in the CAR meme coin's domain registration, indicating that the registration on Namecheap occurred shortly before the project's official launch, prompting concerns about the legitimacy of the initiative.

Following these developments, X suspended the meme coin's official account, leading to assurances from President Touadéra that efforts were underway to reinstate it promptly.

CAR found its place on the Solana-based Pump.fun platform and saw a rapid increase in market cap, reaching $527 million shortly after launch. However, confusion emerged as multiple tokens sharing the same name entered the market simultaneously.

Amidst the trading frenzy, users highlighted instances of similar tokens launching ahead of CAR, suggesting potential imitations that raised questions about the project's credibility and distribution practices.

As the saga unfolded, parallels were drawn with the Official Trump meme coin and its ownership controversies, reflecting the complexities and uncertainties surrounding meme coins tied to political figures.

With these developments stirring up debates and uncertainties, the future of the CAR meme coin remains shrouded in intrigue, leaving the community on edge about its true potential and implications.

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