Meme 币的两面性 - （第 3 部分）成为新的欺诈工具

全球市值飙升至15.3万亿韩元“激增442％”去年交易量一年增长13倍模仿“官方特朗普”的假币出现名人和影响者发布的“表情包”在几分钟内暴跌，导致欺诈调查韩国的用户保护措施监管指南讨论加剧

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.

米姆币以其爆炸式的价格上涨在加密货币市场引起关注，如今已成为一种新的诈骗工具。它们的目的是刺激人类的投机心理，旨在获得投机大奖。有分析甚至表明，现实世界中出现的模因币，97%已经变得一文不值。

○ Sparking Speculative Psychology

○ 激发思辨心理

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.

据CoinMarketCap 23日报道，截至当天上午9点，全球加密货币交易所上市的meme币市值达到15.258万亿韩元。与去年1月24日（2.813万亿韩元）相比，一年内市值增长了442.4%。同期，全球 meme 币交易量（24 小时基准）也从 2 万亿韩元上升至 27 万亿韩元。

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.

在加密货币交易所上市的 Meme 币至少已经通过了每个交易所的公众支持等上市标准。然而，根据全球最大的加密货币交易所币安的数据，截至去年11月发行的meme币中，97%的交易量显示为“0”。由于模因币只需一个想法即可发行，因此每天都会创建数以万计的模因币。在meme币创建平台PumpFun，24小时内生成约50,000个meme币。

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.

模因币的创建灵感来自流行的互联网幽默、笑话或图像，因此它们没有内在价值。它们与其他通过公开明确的开发人员、技术和未来使用计划来获得公众信任的加密货币不同。由于缺乏价值，它们的价格波动也很大。

○ Meme Coins in a New Phase

○ 新阶段的 Meme 币

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.

迷因币被用作诈骗工具的案例也不断出现。美国网红海莉·韦尔奇（Hailey Welch）根据自己的人气创造了模因币“HAWK”，但其价格在推出后三个小时内暴跌91%，导致因内幕交易而受到调查。牙买加裔美国歌手肖恩·金斯顿推出了模因币“KING”。它的市值在推出后不久就达到了 400 万美元，但在短短几分钟内就跌至十分之一的 40 万美元。还有分析称，六分之一的 meme 币是针对投资者资金的公然诈骗币。

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."

特朗普家族推出模因币被视为开启了模因币的新阶段。首先预计美国证券交易委员会（SEC）监管将会加强。虚拟资产专家 Andy Lian 表示，“总统表情币的推出模糊了娱乐、政治和金融之间的界限”，并补充道，“因此，SEC 面临着必须选择是进一步加强监管，还是进一步加强监管的局面”。制定更明确的指导方针以适应现实。”

○ Strengthening Regulations in Korea

○ 韩国加强监管

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."

有迹象表明，韩国的模因币监管也将得到加强。金融服务委员会宣布将对模因币等劣质币指定上市要求。这些要求包括发行方的可靠性、用户保护措施、技术和安全以及遵守法律等，重点验证数字资产和发行方钱包信息的不公开性。一位金融服务委员会官员解释说，“是否利用现有法规或引入特定于 meme 币的指导方针将在稍后讨论。”

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

郑镇/赵美贤 justjin@hankyung.com