Newly launched DubaiCoin (DBIX) jumps 1000% in 24 hours. The DubaiCoin is the first public blockchain-based cryptocurrency as claimed by the company and was launched by the UAE-based company Arabianchain Technology. The cryptocurrency is trading on a few exchanges. In future we will be able to generate our own DubaiCoin by mining them. The price surge by 1,000 per cent over the last 24 hours from $0.17 to $1.13 on May 27.
All that glitters is not gold, the UAE official authority said DubaiCoin cryptocurrency was never approved. The Website is phishing campaign which is designed to steal the user’s money and data. Later on the Fake press release, was also unpublished by the PR Newswire.
Dubai Coin cryptocurrency was never approved by any official authority.
The website promoting the coin is an elaborate phishing campaign that is designed to steal personal information from its visitors.
Arabian Chain Technology attempted to disassociate itself from the controversy by tweeting “We haven’t made such an announcement, please be cautious. Also this website : http://dub-pay.com/en/ is fake and a scam. Please be careful,”.