Dubai Coin – a scam? What does the country’s government say?
Against the background of the growing popularity of government cryptocurrencies, many different projects are emerging. But, unfortunately, among the really promising and sanctioned platforms there are also those companies that have nothing to do with states. After all, hackers, as well as various swindlers, are well aware of what the future is for CBDC. And, because of their own confidence, they begin to create openly fictitious companies. One of these, apparently, was the Dubai Coin organization. Next, we will tell you everything that is known about this enterprise, its real status and developers. So, without further ado, let’s get started.
Where such confidence?
Obviously, when talking about state cryptocurrency, the decisive word is the word of the government of a particular country. In the case of Dubai Coin, we are, as you probably guessed, talking about Dubai. It is one of the most developed cities in the UAE, which functions like a separate state. Yes, geographically and legally Dubai is controlled by the UAE. But the current state of affairs shows that there are many absolutely unique structures in the city. One of which was to be its own cryptocurrency.
The newly emerging company Dubai Coin invited everyone to invest in the development of a unique digital token. Which will function in the ecosystem of the city and partially replace the local classic currency. However, the government denies any connection to the organization. And he strongly recommends not to cooperate with such a dubious project. That is why we can confidently talk about the dishonest nature of Dubai Coin and move on to discuss the details.
What does Dubai Coin do?
Note that the volume of real investments in the project is unknown. Nevertheless, based on the fact that the asset has already been sold on many digital platforms, we can conclude that there are real victims of these scammers. However, representatives of government agencies note that the main task of the fraudsters was not to obtain monetary gain, but to steal personal information of users. This is a phishing site that, through filling out a form, collected personal information from attracted customers.
And so far it is not known exactly where the collected information was sent. It is possible that unscrupulous scammers sold the information they received to third-party companies. Or they used the data for their own selfish purposes.
But we need to admit – the preparation for criminal activity is impressive. Rather, the professionalism with which the scammers approached their work is impressive. No hint of the dishonest nature of the organization. Quite pleasant, beautifully made and well-functioning site. Which, however, is no longer available. Apparently, at the first attention from the state, appropriate measures were taken. And Dubai Coin has been successfully liquidated. Anyway, the project resources are down. And digital organizations began to massively remove the token from all platforms and from all lists. Prior to the announcement by the Dubai authorities, the value of the asset was at around $ 1.5.
At the moment, the price tag has dropped to the level of $ 0.17. We won’t be seeing this ill-fated coin on any respectable digital platform anytime soon. But why is the Dubai Coin experience so important, even for those who have not encountered scam scams?
This is an instructive example that shows how cunning and resourceful scammers are in the crypto industry. Yes, we have come to the conclusion that even projects with supposedly state support cannot be trusted. We strongly recommend that you carefully evaluate each project before the actual work. Only a careful and attentive approach will make it possible to consistently receive profit from profitable investments. The main thing is to stay abreast of all the news of the digital world. To be the first to know about useful, dishonest and simply interesting projects – stay with us. We publish only high-quality, interesting material. Thanks for attention. Good luck!