DeepSeek Fake Cryptocurrencies Invade Crypto Market

Unauthorized cryptocurrencies bearing the name of Chinese artificial intelligence company DeepSeek have been spreading across multiple blockchains, defrauding thousands of traders.

One of these fraudulent cryptocurrencies reached a market cap of $48 million before collapsing, despite explicit warnings from the company that it had no connection to any cryptocurrency projects.

The chaos coincided with panic on Wall Street, sending cryptocurrencies in general tumbling.

Bitcoin briefly fell below $100,000, while XRP tested monthly lows.

DeepSeek’s fake coins and their impact on the market:

One of the fake cryptocurrencies was launched on the Solana blockchain, where it recorded about $150 million in trading volume and attracted more than 22,000 wallets.

The scammers tried to promote it on social media platforms and falsely link it to DeepSeek, taking advantage of the company’s rapid rise in the field of artificial intelligence.

Another unauthorized cryptocurrency also appeared, reaching a market cap of $13 million before collapsing to $8.6 million.

Beware of fraudulent projects:
Cryptocurrency scams have increased, especially after the launch of President Donald Trump’s coin, which led to daily scams in the name of “Trump” doubling from 3,300 to 6,800.

Despite the security measures taken by platforms like “Uniswap” and “DexScreener”, the decentralized nature of the blockchain still makes it difficult to completely prevent scams.

So here the user is the master of the situation and must beware of such projects.