Uniswap Fires Developer Accused of Siphoning $25k in Memecoin Rugpull

• Uniswap developer AzFlin rugged a meme coin undertaking known as FrensTech.
• He withdrew the liquidity he added and pocketed the 14 ETH funds.
• Uniswap fired the developer AzFlin for his actions.

A distinguished worker of Uniswap, the most well-liked decentralized trade, has come underneath damning allegations of a crypto rip-off. In a current tweet, pseudonymous UniswapVillain notified the crypto neighborhood that AzFlin, a Uniswap developer, rugged a meme coin undertaking a couple of hours after creating it. 

The meme coin undertaking in query was FrensTech (FRENS). UniswapVillain famous that AzFlin rugged the FrensTech undertaking by withdrawing the assist he beforehand added that enabled the FRENS coin to be traded. 

Particularly, after accumulating 14 Ethereum (ETH) tokens in charges, valued at over 25,800, AzFlin allegedly eliminated the liquidity and pocked the collected funds. The developer carried out the fraudulent motion by way of the Hop Protocol, a decentralized bridge that permits customers to switch tokens between totally different blockchains. 

Moreover, UniswapVillain talked about that the developer didn’t solely take away the liquidity from the meme undertaking. He famous that AzFlin equally offered the cash whose liquidity he had withdrawn. UniswapVillain emphasised that the scenario was notably regarding on condition that AzFlin and his affiliation with Uniswap was public information. 

Uniswap CEO Reacts

Hayden Adams, the founder and CEO of Uniswap, took to X (fka Twitter) to react to the scenario in regards to the worker underneath him. Adams proclaimed that the corporate already fired AzFlin. The CEO mentioned AzFlin’s habits was at variance with the corporate’s working coverage. 

In the meantime, AzFlin confirmed the event by way of his X account. Apparently, he revealed that his inbox had been flooded with folks providing him assist and promise of employment.