Too Long; Didn't Read
Dubaicoin or DBIX is the very first cryptocurrency that was launched by Dubai. The purpose of launching this cryptocurrency is to eventually replace Dirham for purchasing goods and services all across the country. DubaiCoin was listed in numerous trading platforms such as CoinMarketCap, with an initial price of $0.17. On Thursday 27th May, the price of DubaiCoin rose up to $1.13 after the claims of ArabianChain Technology claimed in a press release that this cryptocurrency will soon be utilized for purchase goods. The website promoting DubaiCoin is an elaborate phishing scam that is specially designed to have illicit access to the personal information of visitors.
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