A developer at Uniswap who was accused of stealing $25,000 worth of Memecoin was fired
AzFlin, the creator of Uniswap, has developed a meme currency dubbed FrensTech. He took the newly-added cash and 14 Ether for himself.
One of the most visible staff members of Uniswap, the leading decentralised exchange, has been accused of running a fraudulent cryptocurrency operation. A Twitter user going by the handle “UniswapVillain” recently informed the cryptocurrency world that a Uniswap developer named “AzFlin” had abandoned a joke coin project only a few hours after it had been created.
FrensTech (FRENS) was the name of the meme currency project in dispute. UniswapVillain pointed out that AzFlin had roughed up the FrensTech project by removing the backing he’d previously provided to make the FRENS currency tradeable.
Developer @AzFlin, who works for Uniswap, has released $FRENS, the Frenstech (@FrensTech) cryptocurrency.
Specifically, AzFlin was accused of draining the liquidity and pocketing roughly $25,800 in fees after amassing 14 Ethereum (ETH) tokens. Using the Hop Protocol—a decentralized bridge that enables users to move tokens between multiple blockchains—the developer committed the fraudulent activity.
In addition, UniswapVillain said that the developer did not only eliminate the meme project’s liquidity. He saw that the coins whose value he had withdrawn were also sold by AzFlin. Given that AzFlin’s connection to Uniswap was already well-known, UniswapVillain stressed how grave the situation was.
The CEO of Uniswap, Hayden Adams, addressed the problem with his direct report on X (formerly Twitter). Adams said that AzFlin had been let go from the firm. The chief executive officer said that AzFlin’s actions were against corporate policy.