UAE - Mubasher: Dubai Coin cryptocurrency has neven been approved by any official authority, Dubai Electronic Security Centre (DESC) recently confirmed.
"The website promoting the coin is an elaborate phishing campaign that is designed to steal personal information from its visitors including names, email addresses, passwords, and phone numbers," the DESC announced.
The DESC said that Dubai does not currently have any official cryptocurrency, requesting the public to "verify the authenticity of investment opportunities with official sources."
Claims have been made that DubaiCoin is the official digital currency of Dubai, and Arabian Chain Technology was behind the launch of the asset.
"We haven’t made such an announcement, please be cautious. Also this website, dub-pay.com/en/ is fake and a scam. Please be careful," the Dubai Silicon Oasis-based Arabian Chain Technology affirmed on its official Twitter account.
