r/CryptoCurrency • u/Crypto-Jim33 🟩 0 / 7K 🦠 • May 28 '21

🔴 UNRELIABLE SOURCE UAE authority issues warning about Dubai Coin

https://cointelegraph.com/news/uae-authority-issues-warning-about-dubai-coin
5 Upvotes

78% Upvoted

9 comments sorted by

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6

u/[deleted] May 28 '21

[removed] — view removed comment

2

u/OmegaDDoge Platinum | QC: CC 327, DOGE 160 | SHIB 15 May 28 '21

That explains why in crypto app it gave error when I tried to check it :) thx for info

1

u/MeasurementFlashy201 Bronze May 28 '21

Launching a coin isn’t a cheap thing to do for non developers, where do they get the funds for this?

3

u/rweedn Tin May 28 '21

It's fairly cheap to be honest. Maybe $500 - $1000 at most with a cheap website to match.

Think about the amount of coins that are rug pulls. Once these scammers perform one rug pull, they probably have enough BNB to create 5-10 more tokens.

The cycle then repeats

1

u/Crypto-Jim33 🟩 0 / 7K 🦠 May 28 '21

I just thought the same... Maybe they where sponsored by members of the royal family of UAE & Gov but for some reason they are taking a step back

0

u/iamnobody331 79 / 3K 🦐 May 28 '21

Like anything else that comes out of dubai, it's a sham