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.

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.
News
Space42 & Cobham Satcom Launch New Satellite Broadband Terminal
IP NEO has been engineered to provide uninterrupted, high-speed connectivity for sectors that rely on secure communication.

UAE-based SpaceTech firm Space42, has teamed with Cobham Satcom, a global player in satellite communications, to introduce IP NEO — a next-generation satellite broadband terminal built for reliability and security.
Developed through a collaboration between Cobham Satcom and Space42’s satellite solutions division, Thuraya, IP NEO is engineered to provide uninterrupted, high-speed connectivity for sectors that rely on secure communication. Its design, optimized for compactness and durability, ensures seamless data transmission across Thuraya’s network, making it a valuable asset for government agencies, NGOs, corporations, and even individuals operating in remote areas where traditional technologies may fall short.
As the exclusive provider of Thuraya 4 terminals for Space42, Cobham Satcom has also played a crucial role in building the ground infrastructure for the upcoming Thuraya 4 satellite network. This strategic integration reinforces Cobham Satcom’s standing as a leading global provider of L-band connectivity solutions.
Ali Al Hashemi, CEO of Yahsat Space Services at Space42, emphasized the terminal’s strengths, stating: “IP NEO demonstrates our commitment to delivering secure, resilient, and future-ready satellite communication solutions. Built on robust L-band technology, the platform ensures reliable connectivity, even in the most challenging environments. Its compatibility with Thuraya 4 further strengthens its capabilities, enabling high-throughput speeds that meet the evolving demands of mission-critical operations”.
Designed to support critical applications such as internet access, video conferencing, surveillance, and VPN connectivity, IP NEO is built to withstand tough conditions, featuring water and dust resistance — ideal for use in extreme environments.
Also Read: Pure Electric Expands To UAE, Boosting Micro-Mobility Sector
Christophe Duret, CEO of Cobham Satcom, highlighted the impact of this innovation: “Along with Space42’s state-of-the-art Thuraya 4 satellite’s advanced capabilities, our new terminals for government and commercial end-users will provide the fastest standard L-band connectivity ever achieved, unlocking new opportunities for secure and resilient high-speed connectivity for demanding land and ocean environments”.
Part of Space42’s next-generation product lineup, IP NEO is designed for long-term adaptability and is fully compatible with the Thuraya 4 satellite. Once operational, Thuraya 4 will enable IP NEO to deliver speeds of up to 1024 kbps, along with simultaneous voice and data communication along with remote terminal access.
The official launch of IP NEO is set to take place at the 2025 SatShow (March 11-13, 2025), at the Walter E. Washington Convention Center in Washington, D.C.