Central African Republic Meme Coin CAR Warning… "Still Lacks Transparency"

The founder of the well-known blockchain security firm SlowMist has issued a warning about the Central African Republic Meme (CAR).

On the 9th (local time), Cos, the founder of SlowMist, stated on X, "Currently, the CAR, reportedly issued by the President of the Central African Republic, has a sloppy launch process," and "The lack of transparency can lead to all sorts of problems. Do not FOMO (Fear of missing out)."

He pointed out, "The official website of CAR is still not accessible," and "Some meme coin trading platforms are introducing malicious sites as the official homepage." He further added, "The details of the locked-up quantities have not been verified," and "80% of the CAR supply is distributed to six addresses related to the issuer."

Previously, Faustin-Archange Touadéra, the President of the Central African Republic, announced the issuance of the official meme coin. The authenticity remains unclear.

As of 3:22 PM, according to Dex Screener, CAR is trading at $0.3107, a 314,000% surge from 24 hours ago.