Topic: Uniswap has made it easier for scammers? (Read 858 times)
The quintessence of DEX and this crypto market is freedom and opportunity, so all that you need is DoYour Own Research. Much the same as the ICO a couple of years back, while making tokens on the ETH network was too basic, at that point the scam additionally expanded
If uniswap start deleting tokens from their DEX it's no more a decentralized exchange, the only thing we can do is keep warning newbies about scam and fake tokens on UNISWAP exchange, there are hundreds of fake DeFi projects using twitter to tweet about their projects, they always have limited supply like 30,000 or even less, it's probably why newbies get attracted to them
New Concept usually have its own negative impact. Many of these project rug pulling are not serious one, they just entice investors and run. Not a fault for uniswap but the greedy should cut their greed.
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?
No matter how good the use case of a project is, scammers will always use it to their own advantages, the main purpose of DeFi platforms and exchanges is to give every crypto users the freedom to trade and add liquidity for their tokens with zero spendings, scammers are to be blame here not Uniswap and other DEX like it, all we can do is learn how to secure our assets when using the Platforms 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 indicated this thing when the defi trend was red hot and booming, some of my friends who were going crazy for these projects i always suggest to be careful as this trend will bring a lot of scams.
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 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?
Indeed, a lot of similar projects on Uniswap appeared on the DeFi market. Unfortunately, we have to admit that most of them are fraudulent projects and launched just to get quick money. As for the fight against such projects, I think the best way is not to take part in them and to inform the crypto community about such projects in a timely manner. Personally, I also witnessed a number of such failed projects and now I always pass them by.
Well to tell you frankly, after UNISWAP airdrops happened a couple of months ago, scam projects increased more here in cryptocurrency, in fact,
it was scattered and posted in the social media such as Twitter, Facebooks and Telegram and even until now they still looking for a victim and UNISWAP still their main tools of course for this things, so let us be more careful anyway.
Newbie are the most vulnerable to this type of fraud because they don't know more about the fraudulent attempt made by certain individual. I have received an email on behalf of Uniswap some time ago. They offer a 400 UNI airdrop, I don't think this is legitimate as it is very clear that a scam is being tried simply because the sender of the email is different from the Uniswap site. Ignoring these email and offer is a sure way to avoid scam. Try all newbie to be careful and ask question before they decide to enter the platform especially if they want to invest. it was scattered and posted in the social media such as Twitter, Facebooks and Telegram and even until now they still looking for a victim and UNISWAP still their main tools of course for this things, so let us be more careful anyway.
It is the part of the cons of decentralized exchange. Maybe you are just noticing this now but DEX have always being the home of recycled and expired token (used and dump). Unfortunately, there is little anyone can do about it other than to report any scam project having a sale swap on the DEX to prevent others falling victims. Alot of project reported on the scam accusation sections make use of DEX platform to collect money from the investors. Kingswap is getting launched soon probably we can see how they intend to tackle scammers
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. I agree, it's better to invest in a well-known exchange and from a fairly tight security perspective.
for example investment d binance, bitrex, and many more.
this is often experienced by beginners, who do not do research first.
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 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?
Well to tell you frankly, after UNISWAP airdrops happened a couple of months ago, scam projects increased more here in cryptocurrency, in fact,
it was scattered and posted in the social media such as Twitter, Facebooks and Telegram and even until now they still looking for a victim and UNISWAP still their main tools of course for this things, so let us be more careful anyway.
I actually had the same perception towards this UNISWAP and if we do look back on that Kucoin hacking incident then try to look on where those coins been mostly converted?
https://news.bitcoin.com/kucoin-hacker-leverages-uniswap-to-dump-vast-number-of-erc20-tokens/
https://www.supercryptonews.com/kucoin-hacker-processing-stolen-funds-via-uniswap/
This is why i do partly agree about hacking incident which this UNISWAP is really a good tool for those scammers or hackers out there.It made their job way more simpler.
I do not think that just because there is a tool to be used by scammers, that tool would be the guilty one. If you are going to get scammed, you are going to get scammed one way or another, it is not going to matter if uniswap exists or not because if you are the type of person who would believe in a scammer you will get scammed eventually. However if we stop all these improvements in the tech world or any part of the world because those things are making scammers job easy, we are not going to get any type of improvement.
People call others on the phone and scam them and get their money, you think phones are guilty and making it easier for scammers? I mean they do, but does that mean phones are bad? I think uniswap is amazing and I believe scammers finding it easier doesn't change that fact.
People call others on the phone and scam them and get their money, you think phones are guilty and making it easier for scammers? I mean they do, but does that mean phones are bad? I think uniswap is amazing and I believe scammers finding it easier doesn't change that fact.
The only way not to get scammed is to be more knowledgeable than scammers we must know how they think, how they do their business, what I mean is awareness, if we are aware that we know how they work there will be fewer people who will get scammed and they will eventually stop scamming people as long we exposed them.
And as someone pointed out a few weeks ago, since the most knowledgeable people are precisely the developers or the hackers who try and exploit poor code, then it must be assumed that Defi space is totally unsafe for 99% of the population of users, including myself and all of us here who of course can't even read a bad code if you put it right in front of us.
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 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?
Well to tell you frankly, after UNISWAP airdrops happened a couple of months ago, scam projects increased more here in cryptocurrency, in fact,
it was scattered and posted in the social media such as Twitter, Facebooks and Telegram and even until now they still looking for a victim and UNISWAP still their main tools of course for this things, so let us be more careful anyway.
Uniswap just gave the opportunity to work without any permission. freedom has some lacks like absence of control and scammers use them. so cryptomembers have to be careful and check tokens before working with them.
this will be of great concern to crypto entrants who don't know more about what is DEFI and what is the DEX platform. most of the newcomers will only think about the high returns or not see how the risk is. this will be a big problem for those investing based on trends and high bids.
I think the title are a bit unfair for Uniswap
They created a platform
They don't create to ease for people who "scam"
Their platform is fine
The investors are not
People actually get scam because they are lazy to read and wanted to ride on projects that they are clueless about it
That makes scammer easier
imo
They created a platform
They don't create to ease for people who "scam"
Their platform is fine
The investors are not
People actually get scam because they are lazy to read and wanted to ride on projects that they are clueless about it
That makes scammer easier
imo
Dex platforms such as UNSIWAP are one of the most highly rated DEX platforms this year. There are many new projects that register their koinya on their platform, the sensation on this platform stems from the airdrop of their own company which was distributed to every DEX user at that time. high withdrawal fees are not a problem for most coin traders. but the problem is that the trends defi are misused by the responsible party, including the developers, making scam projects on behalf of YF, YCF and the like agriculture.
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?
We can help investors by reporting these bad actors and obvious scam DeFi's in the scam section so people will be aware of their activity and how they scam people and who are these scammers, but knowledge is very important always double check on tokens that you are dealing with, it consumed time but it's worth it.
Scammers will be always and everywhere where you can make money, Uniswap, like any other industry, simply brings new tools that anyone can use, including scammers. Of course, any new industry is subject to pressure from scammers and many people will lose money, it has already happened several times in the blockchain industry and will happen again and again. Any financial activity is subject to high risks, including risks because of scammers.
Well said @bubbalex Dont blamed it to technology UNISWAP provides us a a new decentralized exchange with lp pools never been introduced before by any dex existing today thats why this technology was adopted so fast by many erc20 traders even other coins can be traded by wrapping it to eth network just like wbtc, if someone scammed from uniswap by rug pulls from many defi today then its an investors fault why would buy a token with anon team, no kyc, no background in any company and no assurance this defi mostly has anonymous team members in that case you should stay aways from them choose a project which has real team members verified only, 
What happen with uniswap always give chance for scammer listing coin and then few days later coin price drop and become scam, I think next listing uniswap have really check which one coin have to list or not because many coin after listing on uniswap become scam. Kper coin become most scam project with first listing coin price above $5 and the up higher price above $24, then developer of kper coin make supply suddenly added and sell all his assets then price drop under 0.0005$, how much investor loss their money if uniswap not control which one coin have to lost, now give experience for us never playing with uniswap exchange and buy new coin list on there, you can learn with many coin become scam there without have clearly with how much coin supply.
Some scammers have become particularly creative. They analyze what services users use and make the project seemingly legal. For example, they block liquidity, but at the same time they have access to their own tokens and can sell them.
Uniswap is a Decentralized exchanger based on ethereum blockchain and anyone can create their own token. On the Uniswap info website, there is a warning that the token being transacted may be a token that does not have a project, aka a scam, so we need to be careful. I think we need to be careful before transacting and make sure that the smart contract of the token we want to trade is correct
Since DeFi hype start skyrocketing few months ago scammers have been attracted to uniswap platform, here is what they do, the scammers impersonate new projects that's yet to list on Uniswap, they build fraudulent coins with the same name as the unlisted token and sell the fake tokens on uniswap.
Such fraud is very easy to check and should not be a problem for those who want to buy the original token. When buying a token that interests us, we enter the address of the smart contract instead of the name and then make the purchase.
We ourselves must take care of the security of the transaction on Uniswap.
Uniswap is a dex exchange and they don't guarantee anyone's safety, it's a freedom eden, users are on their own at what ever they plan to do on this exchange, before buying any tokens from uniswap try to contact the project team and ask them for their token smart contract, this is the only to avoid getting scammed on uniswap.
No, it doesn't guarantee safety I know that but It can help to reduce scammers by asking KYC from liquidity providers, I am pretty sure it helps a lot, it is not just fake smart contract people could fall in, some people provide very insecure liquidity for some ICOs before the Chef of that ICO adds it, I have seen one of them where the ICO admin himself asked people to don't trade that on UNISWAP because the price is insecure and it has so many differences from real price, I know we can't blame UNISWAP for that but If it's KYC mandatory for liquidity providers, maybe people can recognize it better to buy from which pool, with which name and smart contract and they would be sure that liquidity has been provided from the right person.
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?
reducing scam in Dex ?don't support the project and never invest on them and from that surely there is no scamming will happen in future.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?
remember that scammers are aggressive because there are a willing to be a victim or a fool trying to make easy money.
if those are the problem then surely we cannot do anything about them because it is their money that will be enter the fake projects.
There is no crime in finding answers to everything you want to do or have desire for, i believe information is what makes the web the best place to get answers, use the web for it's purpose, don't blindly do things without any knowledge, don't be like those who like earning first and learning later, they only learn when they make grave mistakes
scammers are everywhere even outside of the crypto space they scattered all over the world. What we need to do is, we should put on the full armor of knowledge and wisdom to avoid all this kind of fraud or scam. If we have fallen victim to scam, has no one but ourselves to blame.
The only way not to get scammed is to be more knowledgeable than scammers we must know how they think, how they do their business, what I mean is awareness, if we are aware that we know how they work there will be fewer people who will get scammed and they will eventually stop scamming people as long we exposed them.
We could assume that Uniswap makes it easy for scammers to commit fraud, because without KYC security procedures users are more vulnerable.
But as long as we do our research properly before deciding to buy tokens, we should avoid project scams. Because scammers are everywhere,
even scammers are on centralized exchanges with high levels of security. As long as we are not easily influenced by hype projects, we are not greedy
and we are always careful in doing research. Should be able to avoid project scams.
Well said and agree, scammers are everywhere even outside of the crypto space they scattered all over the world. What we need to do is, we should put on the full armor of knowledge and wisdom to avoid all this kind of fraud or scam. If we have fallen victim to scam, has no one but ourselves to blame. But as long as we do our research properly before deciding to buy tokens, we should avoid project scams. Because scammers are everywhere,
even scammers are on centralized exchanges with high levels of security. As long as we are not easily influenced by hype projects, we are not greedy
and we are always careful in doing research. Should be able to avoid project scams.
This is a question that has been bothering me too as I have been a victim of buying into scam projects on Bounce Finance platform before. The project raised about 7500 ETH and then listed for a while on Uniswap with very poor liquidity, deleted the TG group and cut off all communications with investors. No project development. They just shared the ETH and disappeared.
This is a downside of decentralization as anyone can list a token on this platform. But as it is commonly mentioned, do your own research. I don't ignore any red flag again.
Bunch of scammers were always creating shit scam erc20 tokens as they were seeing an opportunity to fool people through use the fake contract.
I have heard that kind of project that you have talked above.
We could assume that Uniswap makes it easy for scammers to commit fraud, because without KYC security procedures users are more vulnerable.
But as long as we do our research properly before deciding to buy tokens, we should avoid project scams. Because scammers are everywhere,
even scammers are on centralized exchanges with high levels of security. As long as we are not easily influenced by hype projects, we are not greedy
and we are always careful in doing research. Should be able to avoid project scams.
But as long as we do our research properly before deciding to buy tokens, we should avoid project scams. Because scammers are everywhere,
even scammers are on centralized exchanges with high levels of security. As long as we are not easily influenced by hype projects, we are not greedy
and we are always careful in doing research. Should be able to avoid project scams.
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.
The same pattern will continue until there is strict regulations in the market, i was not expecting the same shit coins being created and the same old pump and dump pattern will rise again but the hype of DeFi changed everything and people will invest left and right without even thinking and even though we have seen many scams i am amazed at the way in which people are willing to risk to make a profit. 
Yes, this is the right place for scammers but don't worry about that, people who have knowledge don't not easy to get scammed, only newbie and greedy people can get scammed with these exchanges.
With Unsiwap hype maybe so many newcomers in crypto interested to try it, little advice always check the smartcontract before doing a transaction
With Unsiwap hype maybe so many newcomers in crypto interested to try it, little advice always check the smartcontract before doing a transaction
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 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?
This is a question that has been bothering me too as I have been a victim of buying into scam projects on Bounce Finance platform before. The project raised about 7500 ETH and then listed for a while on Uniswap with very poor liquidity, deleted the TG group and cut off all communications with investors. No project development. They just shared the ETH and disappeared.
This is a downside of decentralization as anyone can list a token on this platform. But as it is commonly mentioned, do your own research. I don't ignore any red flag again.
The only way not to get scammed on uniswap exchange is knowing the smart contract of the token you want to purchase, enough is enough, too many DeFi projects are scam and I hope that new crypto investors will learn how to avoid the bad projects
Newbies are likely to get scammed. They don't do much research with projects that they invest in. But one thing to check is what you have said. If they are eager to invest in projects or tokens listed on Uniswap, they need to check the legitimacy through the token address / smart contract address. Scammers will always act like that trying to get victims that are not to versed with what they do.
Don't blame Uniswap mate. Decentralized exchanges have been around long before Uniswap and yes, it made it easier to scam people because decentralized means no KYC. And guess what? ICOs were the same too, everybody was scamming everybody and there were no repercussions for anonymous devs. But don't blame the tech. Blame the investors.
true, investors should always be careful in choosing coins for their investment, sometimes there are investors who are too greedy, until they forget to check the coin, I've seen some coins that are very expensive, but still they buy it 
...how we can help to reduce scams on DEXes?..
I think very few newcomers start working with DEX without having experience with centralized exchanges. Therefore, everyone should know that there are a lot of fakes on decentralized exchanges. Everyone should know how to buy a coin using the contract number, and also need to choose to buy a token that has an audit check.
There will be scammers as long as there are greedy people who can jump on any new token to be among the first ...
People who take the time to learn before investing rarely get scammed
.
(Some teams are however in the process of developing solutions to avoid or minimize 'rug pulls').
People who take the time to learn before investing rarely get scammed
.(Some teams are however in the process of developing solutions to avoid or minimize 'rug pulls').
There's no way to stop this from happening except warning newbies to be careful about what they invest in. It's very easy to list coins on DEX and dex can't be stopped because it's decentralized. And about reputation, I don't think this will do anything to crypto reputation in my opinion. There's already a warning that they are investing in a risky asset and they should be responsible for it.
I think we can't stop with just newbies, there are tons of people who I know for years now did fall for many scam projects because defi was the big hype. They have joined many staking pools and helped with many liquidity providing and basically all around got involved with many defi projects all because they believed this was the gold rush of our time and they had to take a small piece with them if they can.Some of them did made some profits but others lost and I can tell you that the amount lost was bigger than the amount won in that situation. So, it is not just newbies that fall for these type of stuff, there are tons of people who have been around for years and seen centralized crypto world and believed decentralized could be the future.
Don't blame Uniswap mate. Decentralized exchanges have been around long before Uniswap and yes, it made it easier to scam people because decentralized means no KYC. And guess what? ICOs were the same too, everybody was scamming everybody and there were no repercussions for anonymous devs. But don't blame the tech. Blame the investors.
UNISWAP has become a haven for scammers,especially on its new days' tons of ETH have been rubbed due to fake smart contract and the same name seems like every thing when it's new has a lot of bugs that scammers know how to use them!
...how we can help to reduce scams on DEXes?..
I think very few newcomers start working with DEX without having experience with centralized exchanges. Therefore, everyone should know that there are a lot of fakes on decentralized exchanges. Everyone should know how to buy a coin using the contract number, and also need to choose to buy a token that has an audit check.
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?
Not only uniswap there are other platforms similar to this that became a safe place for the scammer. Anyone can create a market there with any coin and sell it. And ethereum smart contract isn't preventing anyone from creating a token in a similar name. So scammer sometimes issued a token with the same name. I lost more than 200$ in that way. 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?
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.
Introducing Token Lists
Hayden Adams, Moody Salem(C)
August 26th, 2020
https://uniswap.org/blog/token-lists/
Have you read this guide?
Even if you are invited to uniswap via a link from a telegram channel or another resource, you will have a warning:
It is imperative to check smart contracts.
Rug pull scams on Uniswap are very rampant now wherein many people got scammed by new fake projects and offering people flowery words profit, listing on binance etc. if they buy tokens to them. Most fake projects doing these were using DeFi hype just to target people who are mostly new and no idea about the project. Yes that's so true that scammers abusing the Uniswap platform because it's DEX wherein anyone can list just by contract address and that what's make it the disadvantage of DEX. But it doesn't mean it's Uniswap's fault, instead self-discretion will always be on the people at first to do research and before putting venture on new crypto projects especially if that project using Uniswap.
Uniswap lose millions of its liquidity because of major sold off from some DeFi tokens both legit and scam DeFi projects, now that DeFi hype is over many it's volume keeps decreasing, DeFi projects are what makes uniswap successful in the first place
Without a hype, it will be hard for DeFi to rise same with UNI and maybe they also benefited with those scam projects and allow it easily. There’s a lot of fake token on UNI platform though they make a statement the moment you enter on their site, a warning not to deal with those fake token its still be hard for a newbie to recognize those fake one, i have to admit that DEX are more prone to scammers but of course, they are everywhere always.
The only way not to get scammed on uniswap exchange is knowing the smart contract of the token you want to purchase, enough is enough, too many DeFi projects are scam and I hope that new crypto investors will learn how to avoid the bad projects
That's the disadvantage of dex, too easy for some stranger to take advantage of kinda reminds me fake smart contract address to scam people into buying fake coin. Freedom always comes at cost and I think this one is indeed the cost. On the other hand some people really need to stop investing into these .finance gimmick without knowing who's behind the project.
Uniswap lose millions of its liquidity because of major sold off from some DeFi tokens both legit and scam DeFi projects, now that DeFi hype is over many it's volume keeps decreasing, DeFi projects are what makes uniswap successful in the first place
IMO the short-term trend of defi projects development is coming to an end, and what we have seen are projects pumping huge money into defi projects that are tied and swapped on uniswap, not just. each uniswap is doing it indirectly and some of the major exchanges are still fooled by some such projects. I think people need to stop the hype about defi, it's not yet fully realized to the extent that we want it to be, our future is entering a new cycle into new trends that are waiting for a while so let's ignore this. and I see the market moving up rapidly in the face of big news.
Not just Uniswap, it's been same story with dex exchanges right from time, it's a place where anyone can list for free and there is no screening available on the tokens to find out if they are real or fake, most especially DeFi tokens, they are mostly copied tokens with same name but different smart contract
True, most of the DeFi tokens currently copy the same name with different smart contracts and very easily add them to exchanges like Uniswap using only smart contracts making it difficult for us to determine whether the tokens are genuine or fake. 
Scammers don't really need to have such things for their ill intentions because they can do any evil acts to execute their plans. No matter how advance we have achieved in the industry of crypto, those scammers still have some plans to fool people or to lure them into their scam projects or fake investment method. Either way, we really need to be careful and equipped ourselves with enough knowledge to counter their evil plans. So that we won't fall to their traps when they sugar coat their words of baits.
You can refer to this topic to learn more knowledge about preventing yourself to get scammed.
COLLECTION OF GUIDES ON IDENTIFY AND AVOID SCAM PROJECTS
You can refer to this topic to learn more knowledge about preventing yourself to get scammed.
COLLECTION OF GUIDES ON IDENTIFY AND AVOID SCAM PROJECTS
Scammers will be always and everywhere where you can make money, Uniswap, like any other industry, simply brings new tools that anyone can use, including scammers. Of course, any new industry is subject to pressure from scammers and many people will lose money, it has already happened several times in the blockchain industry and will happen again and again. Any financial activity is subject to high risks, including risks because of scammers.
There's no way to stop this from happening except warning newbies to be careful about what they invest in. It's very easy to list coins on DEX and dex can't be stopped because it's decentralized. And about reputation, I don't think this will do anything to crypto reputation in my opinion. There's already a warning that they are investing in a risky asset and they should be responsible for it.
Uniswap is dex and as such anyone can create a fake token and list it to deceive poor investors who don't know how to check properly the contract address of the project they want to invest on, am not surprise actually that uniswap is turning gradually into scammers hub, the hype of uniswap is so high this recent times it seems every project want to be listed there, so I guess this are some of the consequences that comes along.
Not just Uniswap, it's been same story with dex exchanges right from time, it's a place where anyone can list for free and there is no screening available on the tokens to find out if they are real or fake, most especially DeFi tokens, they are mostly copied tokens with same name but different smart contract
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?
It is true that it is creating a string of buzz from these projects. But there is nothing more we can do in this space, everything exists with good projects and also crowded projects. This creates bad news in the market, but it is also a lesson for them to join the market from which we will have more experience and avoid such projects.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?
Up until now, scammers are trying to re-create this airdrop thing. This is the reason in time, Uniswap will be full of crap DeFi tokens. I hope they will get rid of those tokens that ended up scam or crap. Since it is DEX, can they really put certain requirement before a project is listed? I don't think so. So it is for the users to be vigilant and do their own homework.
The risk is on the users but not all users are careful on how they deal things on the first time, especially those traders who are very much used to trading on centralized exchanges, the UNISWAP developers must up warnings tutorials and notifications on how to use their platform and how to properly trade, if many users will complain of getting scam UNISWAP will lose it's reputation.
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?
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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.
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.
Yeah pull rugs could happen to centralized exchanges too, like what happened with Succi swap and binance , But how many more do you know of them that happened with tier 1 exchanges?
a good CEX would always check everything before adding some coin or token because everyone would blame the CEX if such a thing happens and that CEX would lose its reputation and volume if it happens again, Especially exchanges that have their own tokens like BNB , KCS , the price of that coins would fall and that is what CEX pay as consequence but what would the scammer of UNISWAP pay as consequence?!
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.Look at the first time Uniswap did the UNI airdrop, many scmaers reaped the benefits of beginners because they didn't know that it wasn't actually a UNI token that had to be claimed including now in other DEX exchanges.
Up until now, scammers are trying to re-create this airdrop thing. This is the reason in time, Uniswap will be full of crap DeFi tokens. I hope they will get rid of those tokens that ended up scam or crap. Since it is DEX, can they really put certain requirement before a project is listed? I don't think so. So it is for the users to be vigilant and do their own homework.
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.Look at the first time Uniswap did the UNI airdrop, many scmaers reaped the benefits of beginners because they didn't know that it wasn't actually a UNI token that had to be claimed including now in other DEX exchanges.
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.
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.
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.
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.
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.
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. 
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.
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 .
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 .
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.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.
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.
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
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.
(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.
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. 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. 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?
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
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
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. 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?
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. 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 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.
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.
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
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.
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.
Same questions when ICO's scams are scattered.
How can we prevent it?
It's not easy because we cannot reach all the buyers.
All we can do is create threads here and hope they will bump into them.
Social media is also a good tool but, you must identify where it should be shared with lots of investors in.
Finding facts and proofs also needs a lot of effort and you will not be paid to do the act.
How can we prevent it?
It's not easy because we cannot reach all the buyers.
All we can do is create threads here and hope they will bump into them.
Social media is also a good tool but, you must identify where it should be shared with lots of investors in.
Finding facts and proofs also needs a lot of effort and you will not be paid to do the act.
No one forcing people to buy a token in DEXs, all decision based from that's person. It's why you need to do own research first, study and learn about the token, check the website, whitepaper, team and roadmap.
Newbies only buy a token because of good news, FOMO or giving crazy return. That's why they usually got scammed, and we can't blame them since they're still young.
Precisely, they are afraid of being left behind, but they do not know that choosing and buying a token is something that should be carefully considered. Aside from the many fake tokens, many of them also end up with no value which means we can no longer sell or exchange them. This is not a new issue people can easily search for some news and article to ensure the risk they will be taking in buying a token from DEX. It can’t only affect the reputation of crypto, but also the views of people. However, it is unavoidable due to human greed. As scam exists even before DEX, the least we can do is to be extra careful and critical, we have to make our own way to avoid it. Newbies only buy a token because of good news, FOMO or giving crazy return. That's why they usually got scammed, and we can't blame them since they're still young.
You just have to deal with the outcome I guess, dex is supposed to be better than cex as a decentralize exchange which means anyone can do as they can unlike centralized exchange, since there is more freedom in dex there is hardly anyone can do but just apply caution when interacting with this platform.
I'm beginning to like Decentralized exchange, it's easy no need to login details like password 2 Factor Authentication, and there are no issues about withdrawal not coming and doing KYC, maybe we will see in the future where Dexes will rule the exchange, only users should take a precaution when dealing on DEX everything is in your hands, and in how you handle your keys.
You just have to deal with the outcome I guess, dex is supposed to be better than cex as a decentralize exchange which means anyone can do as they can unlike centralized exchange, since there is more freedom in dex there is hardly anyone can do but just apply caution when interacting with this platform.
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.
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 suggest refocusing on crypto that is clear where it is positioned, and is decentralized quite strongly. indeed the fraud that the DEX did was a material for beginners to start failures at the beginning and subvert their first assets. This has the potential to be quite troublesome, how could it not be, someone who wants to start with high hopes is trapped in the DEX scheme. for that we need thoroughness and carefulness, not only with assets that are not necessarily clear which exchange will enter. very terrible indeed.
If you don't want to get a scam on Uniswap, it's better if you choose coins that are well-known and have a high reputation such as tokens that are already listed on CoinMarketCap and have a high trading volume, don't ever trade on Uniswap with tokens that are not well-known, don't have liquidity too, that's very You are at risk for scam avoiding trading on uniswap with unknown tokens is better.
DEX are 100% freedom haven for every crypto users, the freedom of listing coins and tokens yourself is why its a dangerous place for newbies, learn first earn later, let this be your first rule when meddling with anything crypto, avoid doing anything without proper analysis
Do not venture into something you know too little about, DEX giving the freedom is the true definition of decentralization, nothing is wrong with that, every crypto newbies must do research and ask questions around before going all in, crypto space isn't a place where you commit mistakes without biting hard on you.
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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?
The only answer to your is to DYOR before investing to unknown project just like what others suggesting above. As you already mention, It's impossible to check the all the code of each project just to determine it as a scam because there are so many criteria to consider in coding for that since there are different ways to scam.
There's a basic principle on determining scam project.
If it's too good to be true, It's scam
Anonymous team, High chance of scam
Bullshit Whitepaper, Scam
Garbage website and half arse marketing, project will fail that result to exit scam.
You can just copy another projects name with a new token and list it on uniswap or other dex, newbies that come around to buy coin will eventually get caught in the trap, they will buy the fake coin thinking it's the original, this freedom that DEX gives will be its down fall.
Uniswap is now implementing a warning sign for traders to warn them about buying a fake token, and traders should always check the smart contract of the coin that they are going to trade.
If you've been trading in Decentralized Exchange before you should know this and when trading on DEX extra precaution is necessary
The essence of DEX and this crypto market is freedom, so everything you have to do is DYOR. Just like the ICO a few years ago, when creating tokens on the ETH network was too simple, then the scam also increased.
Yeah, when ICOs were so popular that time scam spread too but they figured it out, they created KYC, and then IEO concept borne by binance and binance made KYC mandatory from the participants from the very beginning and then made the numbers of scams less, maybe they should force people who want to create liquidity to pass KYC and make it mandatory? or just create a trust system like here that only high trusted members can create liquidity on uniswap or pool on bounce finance?
I indicated this thing when the defi trend was red hot and booming, some of my friends who were going crazy for these projects i always sufgested to be careful as this trend will bring a lot of scams.
Uniswap and other decentralized platforms need to come up with a comprehensive strategy so that no scammer can take advantage of their platform to scam people easily.
Uniswap and other decentralized platforms need to come up with a comprehensive strategy so that no scammer can take advantage of their platform to scam people easily.
Decentralized means its a free market that is why scammers take advantage of the freedom to list their project and let the newbies get trapped with no worries. If there is something positive then there will be some negativity get associated with it. So the users are responsible to gather enough knowledge to avoid getting scammed in my opinion.
No one forcing people to buy a token in DEXs, all decision based from that's person. It's why you need to do own research first, study and learn about the token, check the website, whitepaper, team and roadmap.
Newbies only buy a token because of good news, FOMO or giving crazy return. That's why they usually got scammed, and we can't blame them since they're still young.
Newbies only buy a token because of good news, FOMO or giving crazy return. That's why they usually got scammed, and we can't blame them since they're still young.
Those scam project will only affect the reputation of their exchange nothing more .
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 .
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 .
There is no way to stop them until everyone who goes into DEX knows what they are doing and are aware of the risk that any project can become a scam. If they aren't aware of what they are doing, they better just stick on CEX because there is support in those platforms and less risk there. I guess spreading the information on how to use DEX and swapping platforms will make a newbie well equipped.
Not really the downfall of DEX. It's still good to be on DEX. You may find yourself someday using DEX because you want to have the privacy of your details.
You can just copy another projects name with a new token and list it on uniswap or other dex, newbies that come around to buy coin will eventually get caught in the trap, they will buy the fake coin thinking it's the original, this freedom that DEX gives will be its down fall.
Not really the downfall of DEX. It's still good to be on DEX. You may find yourself someday using DEX because you want to have the privacy of your details.
The essence of DEX and this crypto market is freedom, so everything you have to do is DYOR. Just like the ICO a few years ago, when creating tokens on the ETH network was too simple, then the scam also increased.
You can just copy another projects name with a new token and list it on uniswap or other dex, newbies that come around to buy coin will eventually get caught in the trap, they will buy the fake coin thinking it's the original, this freedom that DEX gives will be its down fall.
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.
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 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?
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