Scam Alert

Uniswap Summit Is Subtly Faked With Malicious Intent

Key Points:

  • 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.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

BlockDAG Surges Past $170M as BDAG250 Bonus End Countdown Begins – Aave Targets $400 & Solana Shines with Scalability

BlockDAG crosses $170.5M in presale success with BDAG250 bonus and Whitepaper V3 launch! Solana grows…

39 minutes ago

Qubetics Presale Price Surge Approaches: The Best Coins to Invest in Right Now While Toncoin, and XRP Gain Traction

Discover why Qubetics, Toncoin, and XRP are the best coins to invest in right now.…

1 hour ago

Book of Meme Old News? This Best Meme Coin to Invest in 2024 Is Multiplying Gains Like a Champ

Over the years, meme coins have evolved from inside jokes into serious investment opportunities.

2 hours ago

Time’s Ticking on BlockDAG’s 5-Tier Bonus- Few Days Left to Grab It While Cardano Whales Take Action, Aave Rallies Strong

Discover BlockDAG's five-tier bonus program's closing phases that enhance buyer holdings. Gain insights on the…

3 hours ago

Best Altcoins to Buy for 2025: Qubetics Presale Surge, Solana’s Lightning Speed, and Cardano’s Blockchain Revolution

Discover why Qubetics, Solana, and Cardano are redefining the crypto landscape. Learn about milestones, price…

3 hours ago

Why Qubetics, NEAR Protocol, and IMX Are Dominating Crypto: The Best Altcoins to Join Today for Game-Changing Returns 

Discover why Qubetics, NEAR Protocol, and Immutable X are the best altcoins to join today,…

5 hours ago

This website uses cookies.