Share this article
Sign Up
- Back to menuCryptocurrencies
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars
CORRECTION: Story of UAE Blockchain Fund Was Based on Fraudulent Press Release, Agency Says
An individual claiming to be associated with UAE royalty also utilized a fake website.
A CoinDesk story regarding the establishment of a $100 million investment fund focused on supporting blockchain-based projects and development of related technology in the United Arab Emirates was based on a fake press release given to CoinDesk by a legitimate and long-standing crypto public relations agency, a representative of that agency now says.
The agency was contacted by an individual impersonating an official associated with the Private Office of His Highness Sheikh Hamdan bin Ahmed Al Maktoum, according to Michael Terpin of Transform Group.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The individual also utilized a fake website that has now been taken down, Terpin said.
CoinDesk regrets the error.
UPDATE (Oct. 12, 1:38 UTC): Retracts and replaces previous information.
CoinDesk
CoinDesk is the world leader in news, prices and information on bitcoin and other digital currencies.
We cover news and analysis on the trends, price movements, technologies, companies and people in the bitcoin and digital currency world.
More For You
Multisig Failures Dominate as $2B Is Lost in Web3 Hacks in the First Half
A wave of multisig-related hacks and operational misconfiguration led to catastrophic losses in the first half of 2025.
What to know:
- Over $2 billion was lost to Web3 hacks in the first half of the year, with the first quarter alone surpassing 2024’s total.
- Multisig wallet mismanagement and UI tampering caused the majority of major exploits.
- Hacken urges real-time monitoring and automated controls to prevent operational failures.
Top Stories
