Uniswap has made it easier for scammers? - page 4.

Coin-1

legendary

Activity: 2618

Merit: 2304

Quote from: luckyflop on November 07, 2020, 08:31:43 AM

DEX was a good idea and neat but UNISWAP and Bounce.finance these days have been a reason of so many pull rugs, I don't remember I hear so many scams like now before, do you agree with me?

Not at all. The team that has listed a token on some centralized exchange can also scam exit at any time, so their true intentions matter.

If the source code of the token smart contract is published, then investors can inspect it and find out what part of the funds is allocated to the developers. The team can pull the rug but the maximal amount of their coins is predefined. In my opinion, people should only invest in projects backed by the team they trust.

Quote from: Kupid002 on November 07, 2020, 09:25:09 AM

It is the same as etherdelta before where many people using it at first and then suddenly disappear when they found that the platform is being use by different scammers to sell their tokens . Thats what I think soon to happen in unisswap exchange, if there are no people use that exchange scammers that use it will also gone for good and they will find other alternative to move .

Etherdelta (Forkdelta) is a decent decentralized exchange based on a reliable smart contract. Any ERC20 token can be traded on this platform. Uniswap is the next generation DEX that requires a token listing. Version 2 consumes a lot of gas and is more expensive. These DEX types differ significantly. It is impossible to drain the liquidity pool on Etherdelta.

Scammers can use any exchange. I do not blame Uniswap.

Baofeng

legendary

Activity: 2576

Merit: 1655

I guess we should also do our part, let's be vigilant and be careful not to trust anything right now with regards to Uniswap because scammers are now part of the ecosystem. If you missed the huge airdrop then so be it, not for you. And if ever there will another so called Uniswap clone appearing, think again, this might be a ploy of scammers to take our hard earn money.

Saisher

full member

Activity: 2324

Merit: 175

It is easy for scammers if there are many ignorant new users who do not know how to use UNISWAP or do not do proper researching when swapping his coin here, there are a lo of fake and imitation tokens here, that is why before you trade you already know how to trade in decentralized exchange, there's a lot of risk involved here.

lobo13hf

hero member

Activity: 2268

Merit: 507

Quote from: restuibu on November 07, 2020, 04:17:55 PM

this is DEX and this is also one of the weaknesses of DEX because DEX is heaven for scammers, actually, all this is not the fault of DEX but from ourselves when choosing a token, we have to make sure whether the contract address is correct or not and now UNISWAP has implemented it

Since the dex was completely independent and that makes any coin can be listed on uniswap. Basically, uniswap is working like etherdelta but the only different if that was using the swap method.
The uniswap was always giving a notice to the users to check its smartcontract whether it was a real or fake smartcontract.
Since this is not a centralized exchange site and there will be no audit for the new coin that being listed on it.

Johnyz

full member

Activity: 2086

Merit: 193

Quote from: Winscosinally on November 07, 2020, 08:42:28 AM

Come to think of it, what would have happened if all that's happening around UNISWAP is from a centralized exchange, many would have ridiculed the exchange but this is dex, not every knew what's happening on the exchange, as good as dex exchanges are they are the perfect place for scammers.

This is one of the disadvantage of DEX and we cannot blame UNI for this one and they just need to update the system and don’t allow anyone to easily create their own token without any basis. Scammers will always do their best to scam newbies and those investor who didn’t do any research, be careful always.

asriloni

legendary

Activity: 3038

Merit: 1024

Leading Crypto Sports Betting & Casino Platform

Quote from: Stanlo on November 07, 2020, 12:18:24 PM

Scammers took advantage of uniswap to the core, many tokens are fake on the exchange, if you are new to crypto isn't better to take a good look at the smart contract of your original token and compare before buying on uniswap or else you will buy the wrong token

The developers are also need to checking it too. As far as I know the scammers will always try to create the fake tokens when there's a legit ico and the scammer will try to make it becomes very similar with the official smartcontract that has been published by the developers. In my opinion if it's not only participants but the developers who have been running the ico must also regularly spread the message about this too.
It will help the participants to avoid or determine which is the scam contract.
I'm always seeing the scammer was also publishing it on the telegram group too.

MacHenry

member

Activity: 223

Merit: 11

At the peak of Initial Coin Offering in 2017, many shitcoins were created, pumped and dumped on unsuspecting crypto investors. The same pattern is playing out again with the emergence of Defi projects on decentralized exchanges, DEX.

Scam tokens are a growing problem on the decentralized exchange Uniswap and liquidity pool. This is as a result of Uniswap's protocol’s open listing policy. Open listing policy leads to scam tokens as any rogue actor can just create a coin and sign it up for trading. Most often scam projects are named after popular projects, so as to deceive unsuspecting investors.

One of the easiest ways to detect a scam project is by checking to see if it is a clone of an existing project. But detecting cloned software isn’t something most crypto investors are capable of. Regulations to checkmate listing of project needed to be introduced .

Lordhermes

sr. member

Activity: 1232

Merit: 379

Quote from: bittick on November 07, 2020, 10:37:13 AM

You can't do anything to reduce the scam coins that are still being added into the dex. We have no control over the dex and what we can do to create a lot of awareness to make sure people will not go to buy such crap coin.
Uniswap has been giving the easiest way for scammers to listing his coin and adding small liquidity to lure people to buy the scam token.
I have seen so many fake tokens appeared on uniswap.

I think there should be regulations guiding the listing process of coins on uniswap, from exactly the time uniswap became volatile with high liquidity giving out the ideas of providing liquidity to a particular coins, scammers adopted the idea and start developing fake coins.
There are numerous and thousand fake defi coins in the space which uniswap let's them in, but in the meantime, fraudulent defi coin had been fished out for better cleaning in the crypto space.

restuibu

full member

Activity: 994

Merit: 100

this is DEX and this is also one of the weaknesses of DEX because DEX is heaven for scammers, actually, all this is not the fault of DEX but from ourselves when choosing a token, we have to make sure whether the contract address is correct or not and now UNISWAP has implemented it

zasad@

legendary

Activity: 1932

Merit: 4602

Buy on Amazon with Crypto

https://bitcointalksearch.org/topic/guide-how-to-trade-on-uniswap-correctly-5270415
(GUIDE) How to trade on uniswap correctly
I do not know how to buy fraudulent tokens on uniswap, unless you just want to do it on purpose.
Instead of creating topics like this, better understand how uniswap works and teach other users about it.

kpierce77

legendary

Activity: 1540

Merit: 1002

Quote from: jessyj48 on November 07, 2020, 12:27:41 PM

Who is to be blame? Uniswap? I don't think so, let's put uniswap aside for a moment, let's talk about Monero, as a privacy coin we know what Monero is capable of, the freedom it gives to its users, isn't it the reason that many prefer using Monero to buy illegal things on deep dark web? Scammers will always use any technology to their own advantage

Maybe now there are still "disadvantages" from dexes, because there are so many pull rug that occur and they can hardly be prevented without basic knowledge of investing or coding. Some newbies also don't know how investing in dexes works. I thought Uniswap could do a better prevention than just posting a warning banner.

qazgroup

member

Activity: 1022

Merit: 20

RiveMont

Quote from: luckyflop on November 07, 2020, 08:31:43 AM

We all have heard some of the Uniswap pull-rugs recently, there are some thread on here you can see, I made on of them as https://bitcointalksearch.org/topic/--5281309 , but the list is going to be infinite if I want to add some of them daily, Usually, we hear big scams but a lot of them never mention as they are so small in comparison with those big ones, DEX was a good idea and neat but UNISWAP and Bounce.finance these days have been a reason of so many pull rugs, I don't remember I hear so many scams like now before, do you agree with me?

I think these scams could affect on crypto reputation, as many newbies, especially reach ones would like to make a house on firm and safe ground, I wonder how we can help to reduce scams on DEXes?I know with code analysis we can guess that more likely but what about those ones who don't know the coding that much? how we can find out potential scams before they pull the rug?

Uniswap has been a revolutionary platform for both crypto enthusiasts and traders but this side of uniswap is definitely worth looking into. As a community we could suggest them solutions to fight against scammers or put some quality barriers for new projects to raise funds and the developers of uniswap can apply the most suitable features for the betterment of the platform and also safe gaurding the interests of the investors.

jessyj48

member

Activity: 756

Merit: 14

The only issue that exist on uniswap that I don't like is the ability to clone a original token and list it on uniswap, many people will surely get caught in this trap, but still users need to be fully aware of the danger that lurks on uniswap and other dex platforms

jessyj48

member

Activity: 756

Merit: 14

Who is to be blame? Uniswap? I don't think so, let's put uniswap aside for a moment, let's talk about Monero, as a privacy coin we know what Monero is capable of, the freedom it gives to its users, isn't it the reason that many prefer using Monero to buy illegal things on deep dark web? Scammers will always use any technology to their own advantage

bounceback

sr. member

Activity: 2086

Merit: 283

Vave.com - Crypto Casino

Quote from: luckyflop on November 07, 2020, 08:31:43 AM

We all have heard some of the Uniswap pull-rugs recently, there are some thread on here you can see, I made on of them as https://bitcointalksearch.org/topic/--5281309 , but the list is going to be infinite if I want to add some of them daily, Usually, we hear big scams but a lot of them never mention as they are so small in comparison with those big ones, DEX was a good idea and neat but UNISWAP and Bounce.finance these days have been a reason of so many pull rugs, I don't remember I hear so many scams like now before, do you agree with me?

I think these scams could affect on crypto reputation, as many newbies, especially reach ones would like to make a house on firm and safe ground, I wonder how we can help to reduce scams on DEXes?I know with code analysis we can guess that more likely but what about those ones who don't know the coding that much? how we can find out potential scams before they pull the rug?

I think soo because many scammer make new coin without care for long term, just few days coin have higher price and suddenly drop down without back again like kper coin. How come when coin really raise up to higher price above $24 suddenly drop more lower price to $0.00005 and how many investor lost their money with shit coin. I think uniswap have responsibility which one coin have to list or not because there many fake coin without have limited supply like kper, at the least when coin become scam and lower price suddenly the owner could addend coin supply again and sell all it have.

bttmember

member

Activity: 938

Merit: 13

AMEPAY

Quote from: luckyflop on November 07, 2020, 08:31:43 AM

We all have heard some of the Uniswap pull-rugs recently, there are some thread on here you can see, I made on of them as https://bitcointalksearch.org/topic/--5281309 , but the list is going to be infinite if I want to add some of them daily, Usually, we hear big scams but a lot of them never mention as they are so small in comparison with those big ones, DEX was a good idea and neat but UNISWAP and Bounce.finance these days have been a reason of so many pull rugs, I don't remember I hear so many scams like now before, do you agree with me?

I think these scams could affect on crypto reputation, as many newbies, especially reach ones would like to make a house on firm and safe ground, I wonder how we can help to reduce scams on DEXes?I know with code analysis we can guess that more likely but what about those ones who don't know the coding that much? how we can find out potential scams before they pull the rug?

Unfortunately this is true and we can conclude that if we get superb decentralized apps or services there always seem to be some loopholes that scammers take advantage of. I hope uniswap will come up with some features in their new version to stop scammers to take advantage of their platform.

judaspriest

full member

Activity: 1330

Merit: 100

C O M B O

I also think that, because Uniswap is a decentralized exchange,
we can add liquidity and delete it easily, many cases of token listings on Uniswap suddenly lose liquidity,
this shows that we have to choose a good altcoin to invest in Uniswap.

Stanlo

full member

Activity: 952

Merit: 110

Scammers took advantage of uniswap to the core, many tokens are fake on the exchange, if you are new to crypto isn't better to take a good look at the smart contract of your original token and compare before buying on uniswap or else you will buy the wrong token

shoreno

full member

Activity: 1750

Merit: 118

Quote from: ?? on ??

people think that every new project, especially the Defi project that is already registered on the Uniswap platform or not registered or even the developer plans to register on the Uniswap platform, will bring good results. whereas in fact not all new and old coins that have been listed there are worthy of investment. I am very risky if someone invests based solely on high bids.

old coins listed on that exchange do have a chance because we already know thier flow but new coins are the one that is riskier because they may need to prove how they move before we invest on them . these people that think that all that are listed on uniswap are profitable is the same to those people that said that all coins listed on binance are profitable but binance has a more chance than uniswap because binance is centralized and strictier . if they invest based only on the high price , that depends on the coin and the situation.

DDante

member

Activity: 434

Merit: 19

Scammers are to be blame, nothing is wrong with the freedom been given to users by dex exchanges, it's for our own good but scammers will always take advantage, it's left for people to be very careful and look at tokens smart contract before making any purchases.

Topic: Uniswap has made it easier for scammers? - page 4. (Read 858 times)