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Jio Responds To Rumors, Says Not Launched Any JioCoin

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This is perhaps the first incident since it entered in to Indian telecom space that Jio responded to any rumor or media speculation. But on Wednesday the company had to offer an official statement that it has neither launched any crypto currency by the name of JioCoin nor has launched any such app to purchase such coin or currencies.

“Reliance Jio would like to inform the public and media that there are no such apps offered by the company or its affiliates / associates,” the Mukesh Ambani controlled firm said.

It was responding to numerous media reports that Jio has launched a crypto currency named JioCoin and the same is available for purchase from JioCoin app from various app stores.

The company said it has come across reports in media and other websites about the existence of purported JioCoin Apps on the Internet that are soliciting investments in crypto currencies from people.

“Any such apps using the JioCoin name are fake and people are advised to refrain from dealing with any of them,” the firm advised.

The company, in a media statement to clear the suspicion off the speculations, also warned such firms of legal actions who are using the term JioCoin to misguide people.

“Reliance Jio takes a serious note of such fraudulent attempts by unscrupulous persons to misguide the public in the name of Jio and reserves the right to take appropriate legal recourse,” the company added.

The fraudulent firms are perhaps trying to encash on the recent surge in the valuation of BitCoins – another form of crpto currency – around the globe.  So much so that couple of weeks back the stock value of BitCoin touched around $12000 and, at this point, the same is hovering around $8000.

There are also reports that Samsung is mulling of entering this space. Developments like this perhaps prompted some fraudsters to create some apps by the name of JioCoin and take the ill-informed customers for a ride.

Tags : bicoin exchangebitcoinjiocoinreliancejio
Gyana Ranjan Swain

The author Gyana Ranjan Swain

Tracking the telecom industry for last 14 years, Gyana has worked in cross platform media ranging from broadcast, print, wire agency and online. With an entrepreneurial bent of mind, he loves to write about how technology helps transform lives. He has also founded M2MCafe.com, a news portal on Internet of Things.

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