Connect with us

News

Dubai Government Warns Against DubaiCoin Cryptocurrency Scam

The price of DubaiCoin rose from $0.09 to $1.13 within just 24 hours after a press release claimed it would be Dubai’s official cryptocurrency.

Published

on

dubai government warns against dubaicoin cryptocurrency scam

Cryptocurrency investors have been facing some serious challenges lately. Prices of all major cryptocurrencies have been falling steadily ever since Elon Musk drew attention to Bitcoin’s energy consumption in a series of tweets, ultimately announcing Tesla’s decision to stop accepting Bitcoin as a payment method.

Watching their cryptocurrency portfolios deflate at an alarming rate, many investors have been turning their attention to various alternative cryptocurrencies and tokens of questionable value and origin, hoping that at least some of them will skyrocket in value.

This perhaps explains why a cryptocurrency called DubaiCoin increased by more than 1,000% after just 24 hours since its creators published a press released on a website called DubPay (website no longer available) and managed to get it listed on PR Newswire. Another reason for DubaiCoin’s short-lived success was certainly the fact that the press released claimed that it would become Dubai’s official digital currency.

“DubaiCoin will soon be able to be used to pay for a range of goods and services both in-store and online, with the clear intention for the coin to be used in place of traditional bank-backed currencies,” the press release said. “Circulation of the new digital currency will be controlled by both the city itself and authorized brokers.”

Also Read: The Top 3 Altcoins To Keep An Eye On In 2021

The price of DubaiCoin rose from $0.09 to $1.13, and it would likely continue to climb even higher if it wasn’t for Dubai’s government decision to issue a tweet in which they called DubaiCoin an elaborate phishing scam designed to steal personal information from its visitors.

The company responsible for the creation of DubaiCoin, ArabianChain Technology, has also used Twitter to publicly deny all claims made in the press release. Victims of the scam have rushed to social media calling for actions to be taken against online publications that were quick to promote DubaiCoin as Dubai’s “official cryptocurrency” without validating the source of the news.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Matchmaking App Hawaya Lets Users Connect Based On Lifestyle Choices

Hawaya currently operates in 12 new countries, including Kuwait, Saudi Arabia, UAE, France, Germany, UK, Malaysia, Indonesia, the United States, and Canada.

Published

on

By

egyptian matchmaking app hawaya lets users connect based on lifestyle choices

Finding love is not easy, especially for singles in the Middle East, where conservative cultural norms don’t approve of any but the most traditional forms of matchmaking, which don’t seem all that appealing to many members of younger generations. But it’s not like young men and women in the Middle East are without modern options when it comes to finding the partner of their dreams. Hawaya, a Cairo-born matchmaking app, has recently celebrated 4 million users, and it’s now rolling out a feature that has the potential to expand its userbase even further: the ability to connect based on lifestyle choices with people from other regions.

Hawaya currently operates in 12 new countries, including Kuwait, Saudi Arabia, UAE, France, Germany, UK, Malaysia, Indonesia, the United States of America, and Canada. So far, it has resulted in 18,000 commitments, with 5,000 in Egypt alone.

“We’re seeing singles all over the region, women in particular, trusting in Hawaya to find their life partner more than ever before, which displays greater social acceptance for mobile matchmaking as an empowering tool for women to find their ideal life partner,” said Shaymaa Ali, Hawaya’s co-founder and Marketing Manager in the MENA region.

The new “Lifestyle Preferences” feature allows users to find their other half based on shared interests, likes, and dislikes. Users can now specify the geographic area they would like to explore, instead of always receiving matches that are located as close to them as possible.

Also Read: Tinder Will Soon Let You Background Check Your Matches

“Through innovation, tech, and cultural respect, Hawaya prides itself to be a progressive app that aims to destigmatize the taboo of online matchmaking, and empowering women to take their time and spark a real connection with the love of their lives,” added Sameh Saleh, Hawaya’s founder and CEO.

Since the 2017 launch of Hawaya, social acceptance of online matchmaking in the MENA region has seen a measurable improvement, but there’s still a long way to go before all users of matchmaking apps like Hawaya won’t feel the need to hide their identities.

Continue Reading

#Trending