DeepSeek Issues Warning on 'Fake Tokens'…"Not Official Tokens"

Reports have emerged that the prices of 'fake DeepSeek tokens' have plummeted after Chinese AI startup DeepSeek announced that it has never issued its own tokens.

Previously, DeepSeek garnered industry attention last month by unveiling its AI model 'DeepSeek R1', developed using low-spec chips. Following this, fake tokens such as 'DeepSeek', 'DeepSeekAI', and 'DeepSeekR1' appeared in abundance.

On the 9th, Chinese media outlet Sina Finance reported, "After DeepSeek announced on the 6th that it has never officially issued any virtual assets (cryptocurrencies), the prices of fake tokens have plummeted to nearly zero." According to the media, a total of 75 fake DeepSeek tokens have been issued so far, with fraud damages amounting to 420 million yuan (approximately 83.8 billion KRW).

In fact, on a decentralized exchange (DEX), a fake token named 'DeepSeek' was listed on the 5th and surged to a peak of $380 by the early hours of the 6th, only to crash to around $0.1 within a day.

The media added, "Issuing virtual assets is illegal in China," and "individuals or companies issuing virtual assets may face severe legal penalties." The Shanghai High People's Court ruled last November that fundraising through the issuance of virtual assets is illegal and could be considered financial fraud and illegal fundraising activities.