Overview

• Dozens of fake cryptocurrencies falsely claiming ties to Chinese AI company DeepSeek have emerged, with some reaching multimillion-dollar market valuations.
• A Solana-based token, DeepSeek AI Agent, saw a 600% price increase in 24 hours, briefly reaching a market cap of $11.98 million, while another token, DeepSeek AI, gained over 50%.
• DeepSeek has publicly denied any involvement in cryptocurrency, warning users to avoid scams and fake accounts claiming affiliation with the company.
• Security experts highlight that these fraudulent tokens are primarily traded on decentralized exchanges, making them highly volatile and prone to manipulation.
• The rise of fake DeepSeek tokens underscores broader concerns about the vulnerability of decentralized finance users to scams, especially during periods of heightened market hype.