Fraudsters Pose as Executives, Launch Fake Uniswap Website

Hayden Adams, the creator of the Uniswap protocol and CEO of Uniswap Labs, recently expressed his surprise on Twitter at the creation of a fraudulent Uniswap website.

Adams expressed his astonishment at the complexity of the scam in a tweet, emphasizing that it required considerable effort.

Moreover, he disclosed that the fraudsters had incorporated Chinese community content into their scheme and included links to the legitimate Uniswap app on their fraudulent website.

To bolster the credibility of their scheme, the con artists went to great lengths to organize an hour-long Zoom recording featuring individuals posing as high-ranking Uniswap executives.

This video presentation was intended to deceive viewers into believing the scam was legitimate. Adams exhibited bewilderment upon viewing the video and remarked, “Video is insane.”

“I am not familiar with any of these individuals.”

Adams clarified that neither Uniswap nor the Uniswap Foundation were affiliated with the video or the individuals who appeared in it.

Crypto Twitter theorized that the fraud might involve a video depicting individuals in Shenzhen, China, promoting the Uniswap token.

The footage had titles such as “The first Uniswap Asian Summit” and “Guest: CEO of Uniswap.”

Adams and his team have been working to combat and mitigate the effects of the fraud. Their efforts involve removing the domain used to create the fraudulent website.

Roland, a Twitter user, expressed his astonishment at the event described in Adams’ tweet.

Even though he lived near Shenzhen, he was unfamiliar with the event and speculated that it might have been organized secretly due to China’s stringent cryptocurrency regulations.

In 2018, the People’s Bank of China prohibited cryptocurrency exchanges from operating in the country because they encouraged unapproved public financing.

Since September 2021, all cryptocurrency transactions have been banned in China.