Meme 幣的兩面性 - （第 3 部分）成為新的詐欺工具

全球市值飆升至15.3兆韓元「激增442％」去年交易量一年增長13倍模仿「官方川普」的假幣出現名人和影響者發布的「表情包」在幾分鐘內暴跌，導致欺詐調查韓國的用戶保護措施監管指南討論加劇

Meme coins, which are attracting attention in the cryptocurrency market with their explosive price increases, have now become a new tool for fraud. They are designed to stimulate human speculative psychology, aiming for a speculative jackpot. An analysis even shows that 97% of meme coins that have appeared in the real world have become worthless.

米姆幣以其爆炸式的價格上漲在加密貨幣市場引起關注，如今已成為一種新的詐騙工具。它們的目的是刺激人類的投機心理，旨在獲得投機大獎。有分析甚至表明，現實世界中出現的迷因幣，97%已經變得一文不值。

○ Sparking Speculative Psychology

○ 激發思辨心理

According to CoinMarketCap on the 23rd, the market cap of meme coins listed on global cryptocurrency exchanges reached 15.258 trillion won as of 9 a.m. that day. Compared to January 24th last year (2.813 trillion won), the market cap increased by 442.4% in one year. During the same period, the global meme coin trading volume (24-hour basis) also rose from 2 trillion won to 27 trillion won.

根據CoinMarketCap 23日報道，截至當天上午9點，全球加密貨幣交易所上市的meme幣市值達到15.258兆韓元。與去年1月24日（2.813兆韓元）相比，一年內市值成長了442.4%。同期，全球 meme 幣交易量（24 小時基準）也從 2 兆韓元上升至 27 兆韓元。

Meme coins listed on cryptocurrency exchanges have at least passed listing standards such as public support at each exchange. However, according to Binance, the world's largest cryptocurrency exchange, 97% of meme coins that were issued as of November last year showed a trading volume of '0'. Since meme coins can be issued with just an idea, tens of thousands of meme coins are created daily. At the meme coin creation platform PumpFun, about 50,000 meme coins are generated in 24 hours.

在加密貨幣交易所上市的 Meme 幣至少已經通過了每個交易所的公眾支持等上市標準。然而，根據全球最大的加密貨幣交易所幣安的數據，截至去年11月發行的meme幣中，97%的交易量顯示為「0」。由於模因幣只需一個想法即可發行，因此每天都會創建數以萬計的模因幣。在meme幣創建平台PumpFun，24小時內產生約50,000個meme幣。

Meme coins are created inspired by popular internet humor, jokes, or images, so they have no intrinsic value. They differ from other cryptocurrencies that gain public trust by disclosing clear developers, technology, and future utilization plans. Due to the lack of value, their price volatility is also very high.

迷因幣的創建靈感來自流行的網路幽默、笑話或圖像，因此它們沒有內在價值。它們與其他透過公開明確的開發人員、技術和未來使用計劃來獲得公眾信任的加密貨幣不同。由於缺乏價值，它們的價格波動也很大。

○ Meme Coins in a New Phase

○ 新階段的 Meme 幣

Cases of meme coins being used as fraud tools are also emerging. American influencer Hailey Welch created the meme coin 'HAWK' based on her popularity, but its price plummeted by 91% within three hours of launch, leading to an investigation for insider trading. Jamaican-American singer Sean Kingston launched the meme coin 'KING'. Its market cap reached $4 million shortly after launch, but it dropped to $400,000, a tenth, in just a few minutes. There is also an analysis that one out of six meme coins is a blatant scam coin targeting investors' money.

迷因幣被用作詐騙工具的案例也不斷出現。美國網紅海莉·韋爾奇（Hailey Welch）根據自己的人氣創造了模因幣“HAWK”，但其價格在推出後三個小時內暴跌91%，導致因內幕交易而受到調查。牙買加裔美國歌手肖恩金斯頓推出了模因幣“KING”。它的市值在推出後不久就達到了 400 萬美元，但在短短幾分鐘內就跌至十分之一的 40 萬美元。還有分析稱，六分之一的 meme 幣是針對投資者資金的公然詐騙幣。

The launch of meme coins by the Trumps is seen as opening a new phase for meme coins. It is first expected that the U.S. Securities and Exchange Commission (SEC) regulations will be strengthened. Virtual asset expert Andy Lian said, "The launch of the President's meme coin has blurred the boundaries between entertainment, politics, and finance," and added, "Accordingly, the SEC is in a situation where it must choose whether to strengthen regulations further or prepare clearer guidelines to adapt to reality."

川普家族推出迷因幣被視為開啟了迷因幣的新階段。首先預計美國證券交易委員會（SEC）監管將會加強。虛擬資產專家Andy Lian 表示，“總統表情幣的推出模糊了娛樂、政治和金融之間的界限”，並補充道，“因此，SEC 面臨著必須選擇是進一步加強監管，還是進一步加強監管的局面” 。

○ Strengthening Regulations in Korea

○ 韓國加強監管

There are signs that meme coin regulations will be strengthened in Korea as well. The Financial Services Commission announced that it would specify listing requirements for poor-quality coins like meme coins. These requirements consist of the reliability of the issuer, user protection measures, technology and security, and compliance with laws, focusing on verifying the non-disclosure of digital assets and the issuer's wallet information. A Financial Services Commission official explained, "Whether to utilize existing regulations or introduce meme coin-specific guidelines will be discussed later."

有跡象表明，韓國的迷因幣監管也將得到加強。金融服務委員會宣布將對模因幣等劣質幣指定上市要求。這些要求包括發行方的可靠性、用戶保護措施、技術和安全以及遵守法律等，重點是驗證數位資產和發行方錢包資訊的不公開性。一位金融服務委員會官員解釋說，“是否利用現有法規或引入特定於 meme 幣的指導方針將在稍後討論。”

Jin Jeong / Mi-hyun Cho justjin@hankyung.com

鄭鎮/趙美賢 justjin@hankyung.com