- Uniswap is being used by a group of Chinese to organize a summit.
- At least the scam has caught the eye, but some say it may have been staged through AI.
- This could be a trick to dump the coins being shilled.
Founder of Uniswap Hayden Adams has informed the community of a sophisticated fraud in China mimicking Uniswap.
On June 2, the crypto community on Twitter published a video about the Uniswap conference, the biggest DEX in Ethereum today, which took place in May.
The meeting billed itself as “The first Uniswap Asian Summit,” with a special appearance by the “CEO of Uniswap.”
The intricate degree of the impersonation scheme is shown not only in the magnificent size and backdrop of the video conference but also in the fact that the persons behind it built up a website for the Chinese Uniswap community, posted articles in Mandarin, and directed users to the DEX. In addition, additional high-ranking people, such as the chief technology officer, chief operating officer, chief finance officer, and so on, take part in community exchanges.
Not content with that, the conference also included a video AMA with Uniswap’s CEO, who presented himself as “Mike Hanlon” and is presently the “Global Director of Uniswap Community.”
Hayden Adams, the true founder of Uniswap, quickly moved to Twitter to disavow any affiliation with the conference and warn the community about scammers imitating the organization.
It is unknown why the aforementioned Uniswap imitation conference could take place in China, which has prohibited cryptocurrencies since 2021. Yet, it demonstrates the members’ audacity. To entice naive investors, fraud might be used.
Others claim that the meeting was hosted in Hong Kong and then invited Chinese guests.
“Does that say “schematic diagram”? I don’t think any of these events or even people are real. Looks like a bunch of stock footage taped together with some AI,” a user commented
Celebrity imitation frauds are still a concern in the crypto sector, with the most prevalent being the method of hacking huge project accounts to publish fake messages or shill spam initiatives.
According to others, this is not a new method but has been used many times by Chinese whales to dump coins like FIL or OP on novices.
The crypto investing fever is returning to Asia, with the Hong Kong government beginning to accept operational licenses from crypto businesses on June 1 and allowing investors to purchase and sell digital assets. There are still numerous stringent constraints to encryption. Apart from the foundation of Hong Kong, China is a region with numerous prospective web3 or crypto enterprises.
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