Creator of Uniswap Expresses Surprise Over Unique Scam Targeting Users

Uniswap Scam

The CEO of Uniswap Labs and developer of the Uniswap protocol, Hayden Adams, recently took to Twitter to voice his dismay over the existence of a bogus Uniswap website.

Adams expressed his shock at the sophistication of the hoax in a tweet, stressing the time and work that went into it. He went on to say that the fraudsters had even used material from the Chinese community in their operation, with connections on their fake website leading to the real Uniswap app.

Masterminded Deception

Scammers went to great measures to make their plan seem legitimate by filming themselves on Zoom for an hour while claiming to be high-ranking Uniswap officials. This well staged film was created to trick its audience into thinking the swindle was real.

Adams clarified that despite popular belief, neither Uniswap nor the Uniswap Foundation were affiliated with the film in issue or the people who featured in it.

Furthermore, a video purportedly showing residents of Shenzhen, China, advertising a service called “Uniswap” has sparked speculation on Twitter that it is part of a fraud. Video clips were labelled with names like “The first Uniswap Asian Summit” and “Guest: CEO of Uniswap.”

Adams and his group have been working to stop the swindle and lessen its effects. In order to combat the fake website, they are working to shut down the domain it was built on.

Pooja Bhargav