China Warns About DeepSeek Crypto Scams Targeting Investors

In Brief

Scammers impersonating DeepSeek developers have defrauded investors through fake crypto tokens and investment schemes.

Malware-infected DeepSeek apps are being used to steal user data, posing serious cybersecurity risks.

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Chinese authorities have issued an official warning about fraudulent schemes falsely associated with DeepSeek, a blockchain and AI project that gained popularity earlier this year. Cybercriminals have been exploiting the hype surrounding DeepSeek, tricking investors into fake cryptocurrency investments and enrolling them in worthless training programs.

Scammers promoted a fake cryptocurrency, DeepSeekCoin, convincing users it was a legitimate asset with strong technical backing. Victims were also misled into believing they could earn up to 10,000 yuan ($1,373) per month, leading to widespread financial losses. Fraudsters set up fake DeepSeek communities, where they pushed “exclusive early access” and monetization courses priced between 299–399 yuan ($41–$55).

Beyond financial fraud, authorities have flagged an increasing number of malware-infected DeepSeek apps, disguised under names like DeepSeek.apk, DeepSeek.exe, and DeepSeek.msi. These apps install harmful code, compromising sensitive user data such as contacts and messages. Some even prevent uninstallation, making it difficult to remove the malware.

DeepSeek has officially denied any involvement in cryptocurrency-related activities, warning users to be cautious and avoid unauthorized groups or applications claiming affiliation with the project. Authorities are closely monitoring the situation as they anticipate a rise in similar AI-related scams in the near future.

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