Hayden Adams, the founder of Uniswap recently posted on twitter to reveal an extensive scam targeting the Chinese cryptocurrency community. The scam has to do with a fake fork of the Uniswap website and supposedly it features a one-hour Zoom recording with individuals imitating Uniswap executives.
However, clarifications were made by the founder stating that neither he or any representative from Uniswap or its foundation had any relationship with the unscrupulous deeds happening on the platform. “Video is nuts. No idea who any of those people are. Def not associated with @Uniswap or @UniswapFND. Assuming it’s some sort of scam,” he tweeted.
In the following tweet, Uniswap founder listed the extent to which they’ve been working all round to curtail fraud. “Some next level effort went into this scam. They built a fork of our website (domain takedown pending) that adds Chinese community content and links to the real Uniswap app. And did an hour long zoom recording with real fake Uniswap execs,” Adams reiterated.
The outcome outlining the full extent of the Crime are becoming visible, Although, the criminals created a replica of Uniswap website as well as adding Chinese specific character. This type of fraud is known as phishing which intends tl provide sensitive information under false pretense.
Uniswap and its founder have now informed the community and are reportedly taking drastic steps to tackle the scam, including domain takedown proceedings. Cryptocurrency users are urged to be cautious when interacting with unverified platforms or persons claiming to represent established entities.