The Eastern Caribbean Central Bank issued a public warning that it is not associated with any crypto token ventures or stablecoins on public blockchains and flagged a venture promoted as a stablecoin on the Solana blockchain that is fraudulently using the ECCB’s official logo. The central bank said the representation is false and it is working with relevant authorities to stop the misuse of its name and branding. The ECCB noted that it concluded its central bank digital currency pilot, DCash, in January 2024 and, while preliminary work is under way toward a commercial deployment styled DCash 2.0, it does not currently operate a digital currency or stablecoin in any market. It urged the public to undertake careful research before participating in online crypto token ventures, highlighting common “rug pull” and “pump and dump” scams that can leave users with heavy losses and limited means of redress or recovery. The central bank directed readers to official ECCB and DCash channels for DCash updates and encouraged reporting or clarification requests regarding suspicious activity.

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