DeepSeek Crypto Coin: DeepSeek a Chinese AI app has become popular overnight. Exploiting the name of DeepSeek, an unauthorized Solana based fake DEEPSEEK Token has created buzz around the cryptocurrency market. The token has emerged on several blockchain networks. According to data from Solana token tracker Birdeye, a Solana-based token named after the Chinese AI software DeepSeek AI Token momentarily hit a market cap of $48 million, propelled by $150 million in trading volume. According to the blockchain records, the fake DeepSeek Crypto Coin was created on January 4.
DeepSeek AI Denies involvement
The creator of this fake DeepSeek crypto Coin tried to link with the Chinese AI app. Although its developers attempt, DeepSeek official Twitter (X account) and website has denied any connections to the token. Official DeepSeek AIhas warned the users of a possible cryptocurrency scam.
Fake DEEPSEEK Crypto Coin Reached $48 Million Market Cap
Using the name of the popular Chinese AI app DeepSeek brand, the first fake token gained huge attention in the crypto space. The Solana block chain based token was created in early January and hit a $48 million market cap while trading volume reached $150 million. At the time of writing this article, more than 21,000 wallet holders still have this fake DeepSeek crypto coin however the market cap dropped to $30 million.
Another fake token named after DeepSeek also gained popularity, reaching a peak of $13 million in market capitalization and $28.5 million in trading volume before falling to $8.6 million.
Also Read: Best AltCoins for 2025 Better than Bitcoin
Fake TRUMP, MELANIA to Fake DEEPSEEK Token
A similar crypto scam was also seen earlier this month on January 18, following the launch of Donald Trump’s Official Trump (TRUMP) meme coin. TRUMP official token scam increased from an average of 3,300 per day to 6,800, according to security firm Blockaid. Among these 61 imposter crypto coins claiming to be legitimate TRUMP or MELANIA coins, collected $4.8 million from 12,641 wallets.
The first fake DeepSeek crypto coin’s trading volume have decreased to $2 million however many wallet holders still own the fake assets
Donald Trump Ensured Leadership in Artificial Intelligence
Donald Trump has given a wake up call to the tech industries in the US amid the release of DeepSeek. The latest version DeepSeek R1 became the most downloaded free app on Apple’s App store in the US, surpassing ChatGPT. The quick success of DeepSeek in the US is viewed as a possible threat to American leadership in AI innovation. On January 23, Donald Trump signed an executive order to guarantee American leadership in artificial intelligence.
Why Crypto Market is Falling?
The hype around DeepSeek has received more attention and created a competitive environment of Artificial Intelligence in the technology sector. According to some analysts, DeepSeek’s insane popularity caused the technology stocks and crypto market correction. Several Technology stocks like Nvidia and others experienced massive corrections. Bitcoin Price fell below $100,000 for the first time in the last 11 days amid huge sell-off in technology stocks.
The NASDAQ 100 is filled with big technology companies which experienced heavy losses. DeepSeek’s massive potential with low cost has directly impacted the other heavily weighted technology companies.
How to Avoid Crypto Scams?
The recent events involving TRUMP officials token, MELANIA and DeepSeek Token underscore the dangers of crypto scam. Investors should confirm the legitimacy of fake cryptocurrency and be cautious in order to protect themselves from frauds.
Additionally, scammers have started promoting fake tokens by targeting official X accounts. ZachXBT, a cryptocurrency investigator, pointed out that scammers are now targeting celebrity identities rather than official or political ones. This technique uses well-known names to trick users and acquire credibility.
The creator of fake tokens taking advantage of popular trends in cryptocurrency markets. So Investors are advised to be cautious while investing.
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