TON Falls 6% After UAE Debunks Golden Visa Staking Claims

Toncoin ( $TON ), has dropped over 6% from its Sunday highs after United Arab Emirates regulators publicly denied that staking TON can grant eligibility for the country’s golden visa program.

TON had jumped 10% to a high of $3.03 on Sunday after the project claimed that staking $100,000 worth of Toncoin for three years, along with a $35,000 processing fee, could make an applicant eligible for a 10-year UAE golden visa. But the rally quickly reversed when multiple government bodies refuted the claim.

UAE Regulators Say Visa Claim Is False

The Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA) released a joint statement on Monday. They clarified that golden visas are not issued in exchange for digital asset investments.

“Digital currency investments are governed by specific regulations and are unrelated to golden visa eligibility,” the statement said. Authorities warned investors against falling for misinformation and advised verifying offers through credible, official channels.

VARA also noted that The Open Network is not licensed or regulated in the UAE, further distancing the project from any formal government partnership.

Durov and CZ Amplify the Buzz—Then Pull Back

Fueling early speculation, Telegram founder Pavel Durov reposted the TON announcement on X, though he made no formal comment. The signal from Durov, who has long supported The Open Network, helped push TON higher over the weekend.

Former Binance CEO Changpeng “CZ” Zhao also weighed in, questioning the legitimacy of the offer. “Is this real? It would be awesome IF it is true,” he posted, adding that he had received “conflicting info” about whether it had government approval.

TON Retraces Gains After Clarification

Following the refutation, TON quickly lost its momentum. From a high of $3.03, the token dropped over 6% and is now trading near $2.84. Much of the hype built on the staking-for-visa claim evaporated within 24 hours.

Despite the drop, TON is still among the more closely watched Layer 1 networks, thanks in part to its close ties to Telegram and its rising developer activity. But the incident raises questions about overreach in marketing crypto investment products, particularly when they touch on sensitive topics like residency and immigration.

What Actually Qualifies for UAE’s Golden Visa?

The UAE introduced its golden visa in 2019 to attract high-value individuals, offering 5- to 10-year residency options. Applicants must meet stringent criteria—such as being a doctor, scientist, entrepreneur, or investor with at least AED 2 million ($544,000) in public investments.

Digital assets currently do not count toward this eligibility, according to all involved authorities.

Claims That Were Later Proven Wrong In Crypto

Project	Claim	Reality	Outcome
PinCoin & iFan (Modern Tech)	48% monthly returns via ICOs	Disappeared with investor funds; no real platform	$660M lost; founders vanished
DeFi100	Posted “We scammed you” confession online	Was actually a website hack, not an actual rug pull	Mass panic; token value collapsed
PGUC (Plus Gold Union Coin)	“Hybrid crypto” with high guaranteed returns	Was a Ponzi scheme with fake marketing	Founder arrested in India; ~$28M lost
Goldcoat Solar (via Binance links)	Govt-backed clean energy crypto investment	Used fake endorsements & impersonation	Scammed over 100,000 USDT; police action taken
Delhi Crypto Scam	5–20% monthly ROI, holidays, office setup in Dubai	No real investment; all sites & offices fake	Police investigation; major investor losses
PlexCoin	1,354% return in 1 month + crypto debit card	False advertising; no tech or partnerships existed	SEC froze assets; refunds issued
Centra Tech	Visa/Mastercard-backed crypto debit card	Fake partnerships & team; pumped by celebrities	Founders jailed; SEC enforcement
TON & UAE Golden Visa	Stake TON + pay fee = 10-year Dubai visa	UAE authorities denied validity; no official support	Price spiked then dropped; public backlash