The CAR token skyrocketed in value, but deepfake warnings and a sudden website takedown have raised serious concerns about whether this is truly a government-backed initiative or an elaborate scam.
CAR Meme Coin: A Bold Move or a Deceptive Scam?
On February 10, the Central African Republic (CAR) made a surprising announcement regarding the launch of its own memecoin, CAR.
The declaration came directly from the official X account of President Faustin-Archange Touadéra, who described the project as an experiment aimed at uniting people, supporting national development, and putting CAR in the global spotlight.
“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,” posted Touadéra’s official X account on February 10.
He linked the initiative to the country’s previous pro-crypto stance, noting that he was the second world leader to adopt Bitcoin as legal tender.
The Rapid Rise and Immediate Red Flags
The memecoin, launched on the Solana-based Pump.fun platform, initially saw an overwhelming market response. Within hours, its valuation surged as traders rushed to participate in what was seen as the first-ever national memecoin.
However, skepticism quickly followed. Deepfake allegations, website suspensions, and questionable domain registrations cast doubt on the legitimacy of the project.
Deepfake Concerns
Doubts about the authenticity of the CAR meme coin emerged when AI detection tools analyzed the president’s announcement video.
One deepfake detection model, Seferbekov, found an 82% probability that the video was AI-generated.
Another tool, Ensemble, also flagged it as suspicious.
However, two other AI tools, Avatrify and Deepware’s checker, did not detect any manipulation.
Website and Social Media Takedowns Raise Eyebrows
The controversy deepened when the memecoin’s official X account, which was meant to provide project updates, was suspended without explanation. Hours later, the president’s X account acknowledged the suspension, stating they were working with X to restore it.
As scrutiny intensified, Yokai Ryujin, founder of UnrevealedXYZ, pointed out irregularities regarding how the CAR memecoin’s domain was registered.
The domain car.meme was registered on "Namecheap," a budget-friendly domain provider, only three days before the announcement.
Namecheap later suspended the website, confirming it had been flagged as an "abusive service."
Ryujin, who had warned about the project early on, posted on X that the takedown validated concerns.
“I tried to warn you about this from the start, and I’ll keep fighting for you,” he wrote, urging the crypto community to remain cautious.
Market Volatility and Growing Skepticism
Despite the concerns, the CAR token surged upon launch, reaching a peak valuation of $527 million. However, as of this writing on February 10, the token’s value has dropped to $460 million.
The timing of this controversy is crucial, as the crypto world has recently seen a spike in fraudulent meme coin launches.
Recent Scam Trends in the Crypto Space
Just days ago, scammers hijacked the X accounts of former Malaysian Prime Minister Mahathir Mohamad and Solana DEX aggregator Jupiter to promote fraudulent memecoins.
The tactics used—unexpected high-profile endorsements, rapid website takedowns, and sudden social media suspensions—are eerily similar to the CAR token incident.
Is CAR a Government-Backed Initiative or an Elaborate Scam?
At this stage, there is no clear confirmation on whether CAR is an official government-backed initiative or an elaborate scam.
Conclusion
While the idea of a government-backed meme coin is intriguing, the multiple red flags surrounding the CAR token raise serious doubts. Investors should proceed with caution until clear and verifiable information emerges regarding the legitimacy of this project.
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