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Highlights:
- A video featuring the Central African Republic’s (CAR) president announcing a memecoin has been flagged by AI tools as altered.
- The Solana-based token saw a rapid increase in market valuation following its launch.
- Questions arose regarding the legitimacy of the project due to inconsistencies in the announcement and domain registration.
A video featuring the Central African Republic’s president announcing a state-backed cryptocurrency memecoin has sparked concerns, with AI detection tools indicating the video could be manipulated. The announcement, shared through an official social media account, described the memecoin as an initiative aimed at national development and global outreach.
The Solana-based digital asset gained significant attention, experiencing a sharp rise in market valuation shortly after its release. The project was introduced on an online launchpad platform and quickly attracted participation. However, skepticism emerged due to certain irregularities surrounding its introduction.
Domain Registration and Security Concerns
Security researchers pointed out that the domain associated with the project had been registered only a few days before the official announcement. This raised doubts regarding the initiative’s preparation and legitimacy. The domain registration service later suspended the project’s domain, but the associated website remained accessible.
Further scrutiny arose regarding the language and timing of the announcement. The Central African Republic primarily uses French for official communication, yet the message was issued exclusively in English. Additionally, the timing of the post coincided with late-night hours in the country, adding to the speculation about its authenticity.
Liquidity and Token Distribution
Despite the uncertainties surrounding the project, reports indicate that the token’s distribution aligns with details available on its official platform. However, a designated portion of liquidity, initially outlined in the project’s tokenomics, had yet to be allocated to a liquidity pool.
The Central African Republic has previously explored cryptocurrency-related initiatives, including an attempt to recognize a digital asset as legal tender. A prior state-backed project aimed at attracting international interest in the country’s digital economy was later discontinued due to regulatory concerns. The latest memecoin initiative has reignited discussions regarding the country’s approach to digital asset adoption.
