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 and CEO of Uniswap Labs, recently expressed his surprise on Twitter regarding a scam where individuals created a fake Uniswap website.
In a tweet, Adams indicated 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 incorporated 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 showcasing individuals pretending to be high-ranking executives from Uniswap. This orchestrated video presentation aimed to deceive viewers into believing the authenticity of the scam. Upon viewing the video, Adams expressed his bewilderment, stating, “Video is nuts. No idea who any of those people are.“
To dispel any misconceptions, Adams made it clear that neither Uniswap nor the Uniswap 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 the Uniswap (UNI) token. The footage reportedly bore titles such as “The first Uniswap Asian Summit” and “Guest: CEO of Uniswap.”
Adams and his team have been engaged in efforts to combat and mitigate the impact of the scam. Their efforts involve taking down the domain used to create the forged website.
Related: Uniswap DAO rejects plan to charge LP fees; UNI holders cite tax concerns
Twitter user, Roland, shared his astonishment regarding the event described in Adams’ tweet. Despite residing near 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 prohibited crypto exchanges from operating in the country in 2018, claiming they encouraged public financing without approval. China has banned all cryptocurrency operations since September 2021.
