A new cryptocurrency called DubaiCoin has skyrocketed in value by more than 1,000 percent in 24 hours, prompting concerns about online phishing scams. A press release by a website called DubPay claimed: “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.” “Circulation of the new digital currency will be controlled by both the city itself and authorised brokers.” However, Dubai’s government swiftly issued a statement denying the contents of the …

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