A fake meme coin advertising itself as DeepSeek gained a market cap of over $12 million today before crashing. Since the Chinese AI protocol took the US tech sector by storm, several scam assets have used its branding to reap huge profits.
The crypto community is facing an epidemic of major scams preying on total novices to the space. Meme coin launchpads are only making the issue worse.
Scam DeepSeek Meme Coins Take Off
The arrival of DeepSeek, the Chinese AI program that disrupted the whole crypto market, has led to a truly bizarre situation. Its widespread publicity sparked declines in Nvidia and in AI-related cryptoassets, so scammers began exploiting the hype.
A few fake DeepSeek tokens have appeared on Pump.fun, and they’re already trending on decentralized exchanges. Users are still investing in these tokens, even though DeepSeek previously clarified that it had no connection with any digital asset.
“DeepSeek has not issued any cryptocurrency. Currently, there is only one official account on the Twitter platform. We will not contact anyone through other accounts. Please stay vigilant and guard against potential scams,” the firm claimed earlier in January.
Seek, the first fake DeepSeek token, launched yesterday. It managed to accumulate a $48 million market cap before slumping. This first rug pull was so successful that scammers released another.
A Solana-based meme
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Author: Landon Manning
