"CAR Token Scandal: President Touadéra Accused of Masterminding $40M Crypto Heist"

The President of the Central African Republic, Faustin-Archange Touadéra, has been accused of orchestrating a scam involving the launch of the $CAR token, a memecoin that gained significant traction following his endorsement. The project, which initially drew substantial attention and investment, has since been marred by allegations of market manipulation and insider trading.

The $CAR token was launched after an official announcement from President Touadéra, with the project quickly gaining momentum due to his endorsement. The token's market capitalization surged from approximately $580,000 to $400 million within minutes, and further to $800 million within three hours. However, experts have raised concerns about the tokenomics of the $CAR project, with over 95% of the total supply locked away, raising suspicions about the project's legitimacy.

The situation became increasingly unclear as a website for the $CAR token was launched, initially presented as a genuine outlet for investor information but later found to be fraudulent. Concurrently, a "real" site was linked, which was under construction and subsequently faced credibility issues. Adding to the suspicion, the official Twitter account for $CAR was suspended, with no public communication since then.

The $CAR token initially excited investors with its rapid price increase, but it promptly dropped, leaving many in an uncomfortable position. On-chain evidence suggests that President Touadéra and his team directly benefited from the token's profits, with blockchain data indicating that the largest wallets controlling $CAR tokens are related to the President and his associates. These wallets are believed to have realized around $40 million in profits and still hold another $70 million+ worth of tokens.

Investigations have revealed that President Touadéra's personal digital wallet, known by the blockchain address DeB4XcwEGdMDfA3nQ2NNfvASzmZA5qHWba7xMkrYaQ9H, bought $CAR tokens before the official announcement for just $1,999. He then sold his holdings for an enormous profit of $1.7 million and proceeded to dump 150 to 250 Solana (SOL) tokens every minute, causing the $CAR token to crash.

Despite the substantial evidence of market manipulation, President Touadéra has maintained that the launch was a "massive success." However, this assertion is difficult