Uniswap has become a target for scammers due to its popularity and ease of launching new tokens. Scammers quickly create tokens with vague or misleading names, add liquidity to list them on Uniswap, and then pull out funds after catching a few buyers. They may pretend to be building a project but often have no real use or development. Users need to research any new tokens thoroughly before investing to avoid "rug pulls" where scammers immediately remove liquidity, leaving buyers with worthless tokens. Education is needed to help users spot and avoid these types of Uniswap scams.

1. Uniswap
Scams
Here's what you need to know
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01.

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About Uniswap
Uniswap is a decentralized exchange with a meteoric rise. It gives permissionless
possibility to launch own crypto project with Ethereum token, get listed on its
decentralized exchange, provide liquidity for token swaps, and get into the crypto
world for FREE. With that, there are also opportunities for retailer buyers to buy
projects early and get great returns for a low price. But then, enters SCAMMERS!

3. Scammers know many
people are willing to try their
luck, buying new and
unknown token before it
increases tenfold!
Enter Scammers
Scammers offer new tokens on
Uniswap in buckets. Usually just
creating a new smart contract
with some crazy name and
providing liquidity for it until they
catch few unlucky people who will
try their luck and lose some eth.
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4. Kylin.Network( KYL)
Uniswap Link:
https://info.uniswap.org/token
/0x14a0697732ac443d48217a79
8071c8e2fbb0691b
solv3.network(SLV3)
Uniswap Link:
https://info.uniswap.org/token
/0xa2fffdc6efb2b76109519f23d8
4d3f6122e1d639
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Project Examples

5. Let's look at the
Kylin.Network (KYL) project
Click on https://info.uniswap.org/token/0x14a0697732ac443d48217a798071c8e2fbb0691b and
scroll down. If you go under Transactions section, click on Adds, this is where liquidity was added.
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6. Then if we go under Swaps,
you can see few unlucky people trying to get early and giving their ether to this new project.
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7. After they catch few Ether worth of
value they pull out their liquidity
This can be seen in Removes section
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8. “Farming” out peoples
ether in this popular
move called “rug pull”.
If you are wondering why do they remove
liquidity so quickly, it is because if those people
who invested get doubts, they could sell back
those tokens for eth and remove scammers
gains, so it is easiest for them to remove liquidity
and go on to next project.
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9. In the end, you will be left out with this kind of screen,
showing 0 liquidity, and you unable to sell those tokens.
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10. Also, don’t be fooled
by high liquidity of
projects
Some of them will +100 of ether and pull the rug.
Even having a website and pretending to build
telegram/discord community has happened. But
lately, with the amount of new “projects” coming
to Uniswap, they don’t even bother with that, just
create a new token, steal some eth and go out.
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11. Scammers getting
cheeky
Scammers are also getting cheeky, mocking their
victims with projects named Degenerate
Platform:
https://uniswap.info/token/0x3aa8869dc8df
33f2bbb7447c9164572da6bd7341
Still FOMO people go in and buy those kinds of
projects and lose their ether.
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12. There are also some other
plays, for example where they
resurrect old projects from
the last ICO 2017 craze
Other plays
Those projects will have some
history, website and “some
legitimacy” but all they do is buy
loads of tokens for cheap, then
pump up the price and sell slowly
to new people at higher prices until
they run out of suckers or tokens
to sell or do the same rug pull fast.
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13. For example,
You can also find tokens with names like other
popular projects with like Zilliqa
https://uniswap.info/token/0x02080b9c5d
393a19ff311bb41401dcdac8a0b3dc which
also got some people into it ending in similar
scenarios or projects that combine some
popular names of other projects and people
might put some eth into them as they sound
familiar.
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14. All those Uniswap vaporware
projects
And finally,
Uniswap vaporware projects do not
do this kind of lowest level scams
as they provide liquidity and even
have decent volumes but will
unload on people until this
Uniswap bull market exists and in a
year or sooner will be left with 0
liquidity and 0 price.
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15. What can be done?
We really cannot ask the authorities to catch these
scammers, although it is seen that eth provided for these
“projects” are coming from exchanges like Binance, so
some of them could be caught on KYC.
The thing that could be done is education and
information. Another thing would be that Uniswap adds
the option of locked liquidity in smart contracts, so
projects would have a timeframe in which liquidity cannot
be pulled out. That way, Uniswap would lose some of the
scam volume but would make it a nicer and much less
dangerous environment.
15. ACCESSPORTAL | NCLEX-RN REVIEW
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Conclusion
Always do your own research before getting involved in Uniswap trading. And stay
tuned, we may come up with a second part to this document with additional
information on Uniswap scams soon. The number of scams are far from over So
you need to be careful! Be crypto smart and crypto safe!

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