Is the Central African Republic Really Launching a Memecoin?

On February 9, 2025, the President of the Central African Republic, Faustin-Archange Touadéra, announced on X the official launch of a memecoin named $CAR. Presented as an “experiment” aimed at uniting the population, supporting national development, and positioning the country on the international stage. However, this project raises many questions with an 82% risk of it being a scam, and crypto users currently falling victim to phishing!

Is the Central African Republic launching the memecoin $CAR?

The official site of $CAR includes a video supposedly from the President of the Central African Republic, as well as a page detailing the planned distribution of the total token supply. However, AI detection tools, such as Deepware, flagged this video as potentially manipulated, with an 82% probability that it is a deepfake. Moreover, some crypto observers noted that the domain registration process of the website does not align with usual government practices, as the domain was registered only three days before the announcement.

To ensure clear and efficient communication, we’ve created a news page (@CarMeme_News) for daily updates and announcements. pic.twitter.com/pJbKGdS7p0

— Faustin-Archange Touadéra (@FA_Touadera) February 9, 2025

These elements have led to speculation about a possible compromise of the X account of President Touadéra or on a sophisticated scam. The official account dedicated to updates about $CAR (@Carmeme_news) has been suspended by X, although the president indicated he is working with the platform to restore it.

Despite these controversies, $CAR was launched on the Solana platform via the launchpad Pump.fun, reaching a market capitalization of $527 million shortly after its introduction. This certainly encouraged malicious individuals to launch a large wave of phishing.

Memecoin $CAR: Users Victims of Phishing!

Cybersecurity experts found that several crypto data aggregators listing the memecoin $CAR from the Central African Republic redirect users to phishing sites. The associated Telegram group, accessible via platforms like CoinGecko, contained malicious links, including a fake “Safeguard” bot identified as a phishing tool. After notification, CoinGecko removed the incriminating link.

Additionally, suspicious links were found on other aggregators, leading to pages like kick, designed to execute malicious code. These incidents highlight the security risks associated with the information provided by the community on these crypto platforms.

The case of the memecoin $CAR raises serious concerns about its authenticity and cybersecurity risks. Between deepfake suspicions, potential compromise of the presidential account, and phishing attacks, this initiative sheds light on the dangers of unverified cryptos and the importance of increased vigilance against digital scams.