Uniswap CEO Warns of Scam Ads After $370M January Crypto Losses

TheNewsCryptoPublicado a 2026-02-21Actualizado a 2026-02-21

Resumen

Uniswap CEO Hayden Adams has issued a warning about fraudulent ads impersonating the platform, following a reported incident where a user lost all their funds. This comes as January saw $370.3 million stolen in crypto scams, the highest in 11 months. Adams emphasized that scam ads persistently reappear on major search engines, often appearing as top results for keywords like “Uniswap,” leading users to connect their wallets and approve malicious transactions. One user shared a story of losing a mid-six-figure sum despite being cautious. A single social engineering scam accounted for $284 million of the total losses.

The chief executive officer of Uniswap, Hayden Adams, has alerted users regarding fraud ads mimicking the platform, underscoring a case in which someone reportedly lost everything. It comes following the highest amount of funds stolen in crypto scams in January in 11 months.

He also mentioned that scam ads keep returning regardless of years of reporting, and there were scam Uniswap apps while we waited months for App Store approval, Adams mentioned in an X post on February 20.

He further went on, mentioning that scammers are increasingly purchasing ads on famous search engines, targeting keywords such as “Uniswap”, so when any user searches it, the top result seems official.

Unsuspecting users may then associate their wallets and approve a transaction, permitting scammers to take out their complete funds.

User Shares His Story

A social media user named “Ika” mentioned in an X article named “I lost everything, what’s next?” that his crypto wallet contained a mid-six-figure range value, and it got swept regardless of extreme care.

The user further went on to write that, “Disciplined for two years. Half-searching for a Web3 job, half-hoping to make it quick enough not to need one. I trust that getting swept is not bad luck. It is the last result of a long chain of bad decisions.”

He also shared a screenshot of a top Google search result having an inauthentic Uniswap link. However, this isn’t the first time that Uniswap has faced this issue. In October 2024, scammers identified the lack of domain authority of the website and made a version of the site that seems exactly like the actual one, except that it showed a “connect” button where “get started” should have been and a “bridge” button where it mentions “read the docs”.

Now, the amount of cryptocurrency swept via exploits and scams was $370.3 million in January, the biggest monthly figure in 11 months and around four times the increase from January 2025.

CertiK mentioned that out of the 40 exploits and scams witnessed in January, the major portion of the total value stolen came from one victim that lost about $284 million because of a social engineering scam.

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Preguntas relacionadas

QWhat did the CEO of Uniswap warn users about in his February 20th X post?

AHayden Adams warned users about fraudulent ads mimicking the Uniswap platform, which have led to significant financial losses for victims.

QHow much cryptocurrency was stolen through exploits and scams in January according to the article?

A$370.3 million was stolen through exploits and scams in January, representing the highest monthly figure in 11 months.

QWhat tactic are scammers using to appear legitimate in search engine results?

AScammers are purchasing ads on famous search engines targeting keywords like 'Uniswap', making their fraudulent results appear at the top and seem official.

QWhat was the primary method behind the largest single theft of $284 million mentioned in the article?

AThe largest single theft of $284 million resulted from a social engineering scam.

QWhat did the user named 'Ika' report losing in the cryptocurrency scam?

AThe user named 'Ika' reported losing a mid-six-figure range value from his crypto wallet despite taking extreme care.

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