Uniswap kicked out an employee, responsible for a new ponzi crypto meme token

Hayden Adams kicked out an employee, who allegedly deployed a new token & further sold the raised liquidity funds. 

Hayden Adams is a co-founder of the Uniswap crypto exchange. It is the first mover decentralised crypto exchange in the Ethereum defi ecosystem. UNI is the native token of the Uniswap exchange. The current trade price of the Uni token is 20% high over the last 90 days of trade price. 

On 12 Aug, A crypto dev shared information about a new crypto token “FRENS”. He claimed that the FRENS token was deployed by a Uniswap employee AzFlin and within a couple of hours he transferred the liquidity pool funds to the Base chain to sell. 

Allegedly AzFlin grabbed 14 Ethereum, worth nearly $25,800 at the current trade price of ETH.

Uniswap co-founder Jayden Adams confirmed that Uniswap kicked out this guy from his Uniswap company because the Uniswap team can’t support or condone such types of behaviour. 

The majority of the crypto X users (formerly Twitter users) supported this Uniswap founder’s decision and said that the guy was deserving of such strict action.

Defi & scams 

The Defi sector completed nearly 4 years since the practical level origin but still, to this date the majority of the Defi protocols are centralized and the owner of these decentralized protocols misuse their power to control people’s money.

The latest new crypto token Rugg & Pull scam is not the new thing. In the past, the crypto sector already saw similar scams and these scams are enough to prove that all such Defi protocols are centralized enough & people need to understand such scams with proper knowledge & research before investing in any such new projects. 

Read also: American bank SoFi holds $5,000,000 worth of Dogecoin (Doge), Cardano (ADA), Bitcoin