Central African Republic Launch Memecoin CAR, Face Deepfake Allegation
Central African Republic Launches Controversial Memecoin, Faces Deepfake Allegations
The Central African Republic (CAR) made headlines by launching its own memecoin, $CAR, on February 9, 2025. This is described as an experiment to unite citizens, promote national development, and enhance the country’s global presence. This was announced via the official X account of President Faustin-Archange Touadéra. The token, which debuted on the Solana-based platform Pump.fun, quickly gained traction, reaching a market capitalization of around $527 million shortly after its launch.
Market Activity and Rising Skepticism
Despite the surrounding controversy, the CAR token had a tumultuous debut. It peaked at a market capitalization of $527 million on launch day but fell to $311.98 million with the falling $CAR price to $0.2794 by February 10.
The launch of the memecoin coincides with a surge in fraudulent cryptocurrency schemes. Recently, scammers took over the X accounts of former Malaysian Prime Minister Mahathir Mohamad and the Solana DEX aggregator Jupiter to promote fake memecoins. The similarities in tactics—such as high-profile endorsements, rapid website removals, and sudden social media account suspensions—have led to speculation that the CAR token might also be part of a fraudulent operation.
Deepfake Allegations and Website Shutdown
However, doubts about the project’s legitimacy quickly surfaced. AI detection tools examined the president’s announcement video, with one tool, Seferbekov, saying there was an 82% chance it was AI-generated, while another, Ensemble, also found it suspicious. Meanwhile, Avatrify and Deepware’s checker did not detect any signs of manipulation.
Compounding these worries, the official website associated with the memecoin was taken offline, and the project’s dedicated X account was suspended. Shortly after, President Touadéra’s X account confirmed the suspension and mentioned that talks were in progress with X to restore it.
Uncertainty Over Government Involvement
Until yet, there is no confirmation on whether the CAR memecoin is an official government-backed initiative or an elaborate scam. Crypto analysts and investors remain cautious, urging thorough research before engaging with the token.
CAR Tokenomics
According to Solscan and Dexscreener data, the token distribution roughly aligns with the figures previously published on the official website. One wallet holds 33.31% of the total supply, and another 25%, while 9.81% and 8.39% are held in two additional wallets—one of which may represent funds allocated for charity. Notably, the promised 20% allocation for liquidity has yet to be added to a liquidity pool.
The Central African Republic has a history of cryptocurrency initiatives. In April 2022, President Touadéra adopted Bitcoin as a legal tender and introduced the Sango Coin project, aimed at attracting foreign investment by offering citizenship to token holders. However, in March 2023, the country repealed legislation that gave Bitcoin and other cryptocurrencies legal tender status after facing opposition from the Economic and Monetary Community of Central Africa.
Conclusion
With deepfake allegations, website shutdowns, and social media suspensions, concerns over the legitimacy of the CAR memecoin continue to mount. While the project initially saw a massive valuation surge, uncertainty looms over its authenticity. Investors and observers are advised to exercise caution as investigations into the memecoin’s legitimacy unfold.
