Jan 28, 02:04 AM

DeepSeek AI App Sparks $48M Surge in Fraudulent Tokens Amid $150M Trading Volume and 75 Tokens Created

The recent surge in popularity of the DeepSeek AI app, a Chinese AI model, has led to a proliferation of fraudulent tokens in the cryptocurrency market. One Solana-based token, falsely associated with DeepSeek, briefly reached a market capitalization of $48 million before experiencing a sharp decline to around $30 million. Reports indicate that over 75 scam tokens emerged within 24 hours, marking a threefold increase, as scammers exploited the app's viral success. The trading volume for these tokens peaked at approximately $150 million. In addition to the fraudulent tokens, scammers have also launched a fake decentralized application (DApp) designed to drain users' wallets. The situation highlights the risks posed to traders amid the hype surrounding the DeepSeek AI app.

#DeepSeek AI #Chinese #Solana #DeepSeek

Written with ChatGPT (GPT-4o mini).