Uniswap scam alert: Fraudsters impersonate executives and create fake website
Uniswap and its foundation have no association with the scam as efforts are being made to combat it.
Hayden Adams, the creator of the Uniswap protocol, recently expressed his surprise on Twitter regarding a scam where individuals created a fake Uniswap website.
In a tweet, Adams showed his astonishment at the elaborate nature of the scam, emphasizing that it required a significant amount of effort. He further disclosed that the scammers had gone to the extent of incorporating Chinese community content into their scheme and even included links directing users to the legitimate Uniswap app on their deceptive website.
To add an extra layer of credibility to their scheme, the scammers went to great lengths by organizing an hour-long Zoom recording that showcased individuals pretending to be high-ranking executives from Uniswap. This orchestrated video presentation aimed to deceive viewers into believing the authenticity of the scam. Hayden Adams, upon viewing the video, expressed his bewilderment, stating, “Video is nuts. No idea who any of those people are. ”
In order to dispel any misconceptions, Hayden Adams made it clear that neither Uniswap nor the Foundation had any form of association or involvement with the video in question or the individuals who appeared in it.
Crypto Twitter speculated that the scam might revolve around a video showcasing people in Shenzhen, China promoting $UNI, the native cryptocurrency of Uniswap. The video reportedly bore titles such as “The first Uniswap Asian Summit” and “Guest: CEO of Uniswap.”
Speculative discussions arose within Crypto Twitter, regarding the scam that unfolded, suggesting that it centered around a captivating video. This video purportedly featured individuals located in Shenzhen, China, promoting the native cryptocurrency of Uniswap, known as $UNI. The video reportedly bore attention-grabbing titles, such as “The first Uniswap Asian Summit” and “Guest: CEO of Uniswap.”
Hayden Adams, along with his team, has been engaged in efforts to combat and mitigate the impact of this scam. Their efforts involve taking down the domain used for the creation of the forged website.
Related: Uniswap DAO rejects plan to charge LP fees; UNI holders cite tax concerns
Roland, an individual with the Twitter handle @thegrasscrown, shared his astonishment regarding the event described in Hayden Adams’ tweet. Despite residing in close proximity to Shenzhen, he expressed unfamiliarity with such an event and speculated that it could have been organized discreetly due to the stringent cryptocurrency regulations in China.
The People’s Bank of China (PBOC) prohibited crypto exchanges from operating in the country, claiming they encouraged public financing sans approval. China has banned all cryptocurrency operations since September 2021.
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Author: Amaka Nwaokocha
