ArabianChain Technology, the company behind Dubaicoin, claims to be the first public blockchain in the region, allowing users to mine the currency, and maintain the blockchain ledgers. Dubaicoin was listed on a number of trading platforms, including CoinMarketCap, with an initial price of $0.17. Taking to Twitter, the media office of the Dubai government said that Dubaicoin 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,” it added. The website promoting the coin is an elaborate phishing campaign that is designed to steal personal information from its visitors.

Source: Hindustan Times May 28, 2021 15:43 UTC