A wave of unauthorized cryptocurrency tokens using the name of Chinese AI company DeepSeek has appeared on various blockchain networks. One fraudulent token reached a market cap of $48 million despite warnings from DeepSeek. The scam coincided with DeepSeek's rise in the AI sector. The fake tokens attempted to associate themselves with DeepSeek's official social media presence and website. The fraudulent tokens led to panic on Wall Street and a drop in the value of cryptocurrencies. Bitcoin briefly fell below $100,000, and other major cryptocurrencies also saw declines. The market has since stabilized, with Bitcoin rebounding and analysts remaining positive about its long-term outlook. The incident highlights the risks in cryptocurrency markets and the challenges in preventing scams.



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