Faustin-Archange Touadéra, president of the Central African Republic, said on X that the country’s memecoin was “an experiment designed to show how something as simple as a meme can unite people, support national development and put CAR on the world stage in a unique way”.

CAR President Faustin-Archange Touadéra's X account posted about the launch of the country's $CAR meme coin, but even with a $500 million market cap, there were "red flags" raised about the token's launch.

Several cryptocurrency data aggregators listing the so-called Central African Republic (CAR) memecoin have been found directing users to phishing sites, according to cybersecurity experts. The memecoin gained global attention after the official X account of Central African Republic President Faustin-Archange Touadéra claimed the government had

The Central African Republic's $CAR memecoin has risen to a $530M market cap, but deepfake issues and insider cashouts raise doubts.

The Central African Republic launches $CAR memecoin, surging to $530M, but faces deepfake concerns and domain issues, raising legitimacy doubts.

The $CAR meme coin is "an experiment designed to show how something as simple as a meme can unite people, support national development, and put the Central African Republic on the