Yesterday, scammers created a fake DeepSeek Coin and fooled thousands of investors. The coin became very popular and even reached a market cap of $48 million. But in the end, it turned out to be a scam, and many people lost their money.
Step-by-Step Scam Story:
1. Fake Coin Launched – Scammers created a cryptocurrency using the name DeepSeek, even though the real DeepSeek AI company had nothing to do with it.
2. Big Hype & Investment – Many people believed the coin was real and started buying it. The price increased fast, and the coin reached $48 million market cap.
3. Price Drop Begins – After reaching its peak, the coin’s value fell to $30 million, but many people still held onto it, hoping it would rise again.
4. Official Denial – The real DeepSeek company announced that they never launched any cryptocurrency and warned people about the scam.
5. Crash & Losses – The coin’s price collapsed completely, and the scammers disappeared with the money, leaving investors with nothing.
Lessons to Learn:
Always Verify – Check if a coin is officially backed by a company before investing.
Avoid Hype Traps – Just because a coin is trending doesn’t mean it’s real.
Be Cautious – If a coin promises quick profits, it’s likely a scam.
This scam is a big warning for all investors. Always research before investing so you don’t lose your money to fraud.