Fake News: Dubai HAS NOT Created Its Own Cryptocurrency Called Dubai Coin

Right now, Dubai is in the midst of a crypto moment. The AIBC tech summit is happening as we speak and the DMCC has launched a Crypto Center for businesses, however, Dubai has NOT created its own crypto coin.

Reports suggest that as Dubai aims to be at the forefront of smart technology it launched its very own cryptocurrency called Dubai Coin, (DBIX). Further reports suggest its starting price was $0.17 per one coin and had ‘surged 400% in a couple of days’. Again, false. There IS one exchange hosting the unverified Coin, but tech vloggers are dubbing it a scam.

It’s not hard to believe the rumours. The city is at the forefront of smart technology and the buzz for the coin coincides with the ongoing AIBC tech summit which sees key figures from emerging tech meeting in Dubai, but take note:

Recommended

Abracadabra: Abdulla Mahmoud’s Magical Journey To Stardom!The Ultimate Family Guide: Dubai Fun For Kids!10 Viral Dubai Desserts And Where To Get Them

Dubai has NOT created its own crypto coin and leading local experts are advising you to be cautious

“We haven’t made such an announcement, please be cautious”

One news article shared on Twitter states ‘ArabianChain launches Crypto payments with Dubai Coin’. However, the prominent UAE-based technology firm responded, “We haven’t made such an announcement, please be cautious.”

Hello @larissa74leb We haven't made such an announcement, please be cautious.

— ArabianChain (@arabianchain) May 25, 2021

Another report linked the DC price to a 400%, sourced Coin Market Cap, however, the legitimate site doesn’t host the currency

Many of the information sourced in false reports links to sites that are blocked

And tech vloggers are warning people against mining the currency

Right now, the only place to purchase it is on HitBC ‘which was essentially driven by a scam’.

In verified news… Yhe DMCC has launched a Crypto Centre

Read it here

 

View this post on Instagram

 

A post shared by Smashi Business سماشي أعمال (@smashibusiness)