August 10, 2021
One User Lost $20000 On A Fake Uniswap App
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One User Lost $20000 On A Fake Uniswap App

The more cryptocurrency world becomes popular, the more hackers and scammers become interested to be active in this market. We had many cases in the news so far, which scammers could still people assets in the cryptosphere. However, exchanges and wallets upgrade their security layers constantly, scammers will create and find a new method for the fraudulent activities. The latest method, which scammers are trying fall their victims in, is by making fake mobile apps in order to steal the investors fund. In the latest news, one user lost $20000 on a fake Uniswap app on Google Play Store.


A new fake Uniswap app on Google Play Store

This new application downloaded more than 100 times so far. In fact, this application, claiming that it’s Uniswap exchange. But, it stole the assets of investors. This could become one the important scams, which exist in cryptocurrency world.

The CEO of the Australian-based Nuggets News, Alex Saunders announced that one user lost $20000 by using this application. In fact, the user lost this amount by using a fake Uniswap mobile app, which listed on the Google Play Store. This application published on Nov. 10 under the name “Uniswap DEX”. The publisher of the app mentioned as Uniswap Inc.

The mentioned app has 123 positive reviews, which is suspected to be fake. This application is still on Google Play Store and over 100 people downloaded the app so far.

One User Lost $20000 On A Fake Uniswap App; What is Uniswap?

Uniswap is one of the most popular decentralized exchanges. In fact, it’s popular with traders, who are looking to access assets such as low-cap altcoins. Those assets are not available on another major platform such as Kraken or Coinbase. By using this platform, users can deposit funds using their Ethereum wallet. However, this platform still doesn’t provide any mobile app.

Uniswap is the largest decentralized finance exchange. It has total over $1.3 billion locked into the platform.

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