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The recent viral claim that staking Toncoin could grant a 10-year UAE visa has been officially debunked, highlighting the risks of misinformation in the crypto space.
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This false announcement briefly stirred significant attention, including from Binance founder Changpeng Zhao, before UAE authorities swiftly denied any such program.
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According to COINOTAG, the Emirates News Agency confirmed there is no government endorsement or regulation linking Toncoin staking to UAE residency benefits.
UAE denies Toncoin staking visa claims, emphasizing the importance of verifying crypto offers amid rising misinformation and community backlash.
UAE Government Officially Refutes Toncoin Visa Staking Program
The buzz around a supposed 10-year UAE visa offered in exchange for staking $100,000 worth of Toncoin was short-lived after the Emirates News Agency issued a clear denial. The announcement, initially made by the TON Foundation on July 5, promised lucrative returns and residency benefits that attracted widespread attention across the crypto community. However, the UAE government clarified that no such visa program exists, and TON is neither authorized nor regulated to provide such incentives in Dubai. This official refutation underscores the critical need for due diligence when evaluating high-stakes crypto offers.
Binance Founder CZ Reacts to the False Claims
Changpeng Zhao (CZ), CEO of Binance and a prominent figure in the crypto industry, initially expressed enthusiasm about the potential program, stating on Twitter that if the offer were legitimate, BNB Chain would consider launching a similar initiative. However, after the UAE’s official denial, CZ quickly distanced himself from the claim, labeling TON’s announcement as “aggressive and misleading marketing.” He cautioned the community to approach such bold claims with skepticism and verify information before acceptance, highlighting the importance of transparency and credibility in crypto communications.
Community Backlash and Impact on TON’s Credibility
The fallout from the false visa claim has sparked significant criticism within the TON ecosystem. Community members have voiced disappointment over the foundation’s approach, warning that such misleading promotions could erode trust and damage the project’s long-term reputation. Despite the UAE government’s clear statement, the TON Foundation has yet to retract the announcement or take down the promotional webpage, which continues to circulate misinformation. This situation serves as a cautionary tale about the consequences of unverified marketing tactics in the competitive crypto landscape.
Lessons for Crypto Investors and Projects
This incident highlights the necessity for investors and projects alike to prioritize verification and regulatory compliance. The rapid spread of unsubstantiated claims can lead to reputational harm and regulatory scrutiny. Industry leaders like CZ emphasize the value of cautious optimism and rigorous fact-checking, encouraging the community to demand transparency and accountability. For projects, maintaining clear communication and adhering to legal frameworks is essential to foster sustainable growth and investor confidence.
Conclusion
The debunking of the Toncoin staking visa claim by UAE authorities serves as a reminder of the volatile nature of crypto news and the importance of critical evaluation. While innovative blockchain initiatives continue to evolve, stakeholders must remain vigilant against misinformation that can undermine trust and stability. Moving forward, the crypto community should advocate for responsible marketing and regulatory clarity to safeguard the ecosystem’s integrity and support informed decision-making.
