The Chinese-based AI model DeepSeek has captured the global cryptocurrency market with its low-cost and high-performance attributes. However, the project’s rising popularity has also made it a target for scammers. According to data from security firm BlockAid, over 75 fraudulent DeepSeek coins have been created on the Ethereum 
$3,201 and Solana 
$241 networks. Experts are warning users to exercise caution and avoid purchasing any DeepSeek coins without thorough research.
Fraudulent Coins Surge Following DeepSeek’s Popularity
Despite DeepSeek not having an official cryptocurrency yet, scammers are exploiting its fame to trick investors. The first method used by fraudsters is launching fake coins under the name “DeepSeek.” The second method involves directing users to fraudulent platforms to steal their funds.
Particularly new users are being lured in with promises of high returns. Scammers post fake announcements on social media and forums, claiming that these “official coins” are quickly rising in value to attract victims, only to crash soon after. Security experts are particularly cautious about sites that request wallet connections.
The Dilemma of Decentralization and Regulation
Platforms like Uniswap and DexScreener are implementing filters against fake coins, but these efforts remain inadequate. New fraudulent schemes are exposing weaknesses in decentralized systems. The cryptocurrency community generally continues to resist calls for regulation.
A segment of the community rejects regulatory mechanisms, arguing they go against the essence of decentralization. However, the uptick in fraudulent coins during every wave of popularity highlights the urgency for stronger security measures.
Experts recommend that users follow official channels, avoid connecting their wallets to any site requesting it, and refrain from clicking suspicious links to protect themselves from such fraud.
