{"id":33856,"date":"2022-11-02T01:20:17","date_gmt":"2022-11-02T01:20:17","guid":{"rendered":"http:\/\/egrowonline.com\/?p=33856"},"modified":"2022-11-02T01:20:17","modified_gmt":"2022-11-02T01:20:17","slug":"97-percent-of-crypto-projects-launched-on-uniswap-were-rug-pull-scams","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=33856","title":{"rendered":"97 Percent Of Crypto Projects Launched On Uniswap Were Rug Pull Scams"},"content":{"rendered":"


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Crypto exchange Uniswap has taken a hit to its reputation after Spanish researchers reported that 97.7 percent of tokens launched on the New York-based platform were rug pulls<\/a>.<\/p>\n

Uniswap claims<\/a> on its LinkedIn page to be the largest decentralized trading and automated market-making protocol on Ethereum. It says its users can legally swap crypto tokens in the U.S. and many other countries.<\/p>\n

Like other decentralized exchanges, Uniswap has gained attention as a non-custodial and publicly verifiable exchange that allows users to trade digital assets without trusted third parties. However, its simplicity and lack of regulation also make it easy to execute initial coin offering scams by listing non-valuable tokens, aka rug pulls, according to a study<\/a> by researchers at the University of Barcelona and the University of Pompeu Fabra. <\/p>\n

The research paper was written by Bruno Mazorra, Victor Adan, and Vanesa Daza, and titled \u201cDo Not Rug On Me: Zero-Dimensional Scam Detection.\u201d<\/p>\n

Most recent crypto rug pulls, particularly\u00a0NFT\u00a0rug pulls, have featured Hollywood celebrities, Florence Muchai wrote for Cryptopolitan<\/a>. \u201cAt some point, those celebrities will be held accountable for not being cautious enough in light of the prevalence of scams in the crypto realm, particularly with NFTs.\u201d<\/p>\n

In a January 2022 paper, Spanish researchers said they \u201ccollected all Uniswap data until 03\/09\/2021 by directly interacting with the Ethereum blockchain. In total, we labeled 26957 tokens as scams\/rug pulls and 631 tokens as non-malicious.\u201d<\/p>\n

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The researchers developed a mechanism for identifying previously conducted rug pulls and learned that more than 97.7 percent of the tokens were rug pulls. <\/p>\n

\u201cCertain characteristics of the\u00a0DeFi<\/a>\u00a0ecosystem, like the ease of producing and listing new tokens, have made it easier than ever<\/a> to execute rug pulls,\u201d Muchai wrote.<\/p>\n

The research was recently shared by crypto influencer drnick on Twitter and received wide criticism. Many questioned the rationale behind the study. Some Twitter users\u00a0claimed<\/a>\u00a0that the study lacks a substantial ground to make such a submission, CryptoSlate<\/a> reported.\u00a0<\/p>\n

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Sorry, but that\u2019s a hell of a flawed methodology for that claim. They literally took ALL tokens since 5\/20 \u2013 27k in total & didn\u2019t bother to filter them by liquidity\/volume\u2026anything.
That\u2019s like saying 97% of Twitter accounts are fake, but none were active during the last year<\/p>\n

\u2014 Maya Zehavi (@mayazi) October 31, 2022<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

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This is not remotely concerning or surprising
I bet 97% of dm’s from “men” to women online are 3rd world scammers.
I bet 97% of college essays contain some plagiarism.
What is easier, copy-pasting code from doge-inu and rugging or launching a token with chainlink level utility<\/p>\n

\u2014 AnonCryptoGuy (@AnonCryptoGuy1) October 31, 2022<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

Different techniques were used to trick new investors into buying malicious tokens, according to the researchers, who classified malicious and non-malicious tokens manually to find the malicious tokens traded in UniswapV2, as shown below:<\/p>\n

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Crypto exchange Uniswap has taken a hit to its reputation after Spanish researchers reported that 97.7 percent of tokens launched on the New York-based platform were rug pulls. Uniswap claims on its LinkedIn page to be the largest decentralized trading and automated market-making protocol on Ethereum. It says its users can legally swap crypto tokens […]<\/p>\n","protected":false},"author":1,"featured_media":33857,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[39],"tags":[62,2009,546,1461,4872,4871,162,2530],"class_list":["post-33856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ico","tag-crypto","tag-launched","tag-percent","tag-projects","tag-pull","tag-rug","tag-scams","tag-uniswap"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/11\/1200-New-Academic-Paper-97-Percent-of-Crypto-Projects-Launched-On-Uniswap-Were-Rug-Pull-Scams-800x420.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/33856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33856"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/33856\/revisions"}],"predecessor-version":[{"id":33858,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/33856\/revisions\/33858"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/33857"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33856"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}