Fake Uniswap app on Google Play Store has already lost one user $20,000

Fake Uniswap app on Google Play Store has already lost one user $20,000

A fraudulent mobile application claiming to be the Uniswap exchange has reportedly stolen money from an investor, offering an important reminder of the scams that still pervade the nascent cryptocurrency industry.

Alex Saunders, founder and CEO of the Australia-based Nuggets News, recently reported that one of his members lost $20,000 to a fake Uniswap mobile application that was listed on the Google Play Store. The app, called “Uniswap DEX,” was published Nov. 10 by a person or entity called Uniswap Inc.

The user reportedly entered in their private key backup phrase, thinking they were accessing the Uniswap decentralized exchange, when the theft occurred.

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At press time, the app had 123 (likely fake) positive reviews on Google Play Store and was still available for download. More than 100 people have downloaded the app so far

Uniswap has quickly emerged as the most popular decentralized exchange for traders looking to access low-cap altcoins and other assets not readily available on major

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