Uniswap Denies $2M Exploit Rumours, Calling it Phishing Scam

Uniswap Denies $2M Exploit Rumours, Calling it Phishing Scam

On November 10, inventor of the Uniswap protocol, Adams shared screenshots that exposed the dissemination of untrue information by fraudsters who were specifically targeting users of Uniswap.

These scammers copied the accounts associated with ZachXBT, an investigator on the blockchain, and CertiK, a blockchain security company. They aimed to trick users into clicking on a link by falsely claiming it was for an “approval revocation.”

An impersonator account spread misinformation claiming that two of Uniswap’s hot wallet addresses lost 1,064 ETH, approximately $2 million. Additionally, several fake bot accounts on social media falsely reported losing funds in the supposed incident. 

The impact of the scam was heightened as the scammers managed to make the Uniswap hashtag trend in the U.S. At the time of reporting, it was uncertain whether any actual Uniswap users had fallen victim to the scam.

Also Read: Uniswap User Loses $700K In 12 Seconds To MEV Bots

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