Another Day, Another Hack: Uniswap Fake Token Edition
July 14th, 2022

More than $4.7m was stolen in a fake token phishing scam on Uniswap.  At first, it was thought to be an exploit of the Uniswap token until the community dug a bit deeper to uncover it was a sophisticated phishing scam that employed a fake UniswapLP token that was spoofed to look like it was coming from the real Uniswap contract on chain by modifying the "From" field.

Another cautionary tale to be careful on what you are interacting with, but this one concerns me more than anything.  It's best practice to review the smart contracts for tokens before interacting, however reading smart contracts can be arduous and complex for most.  Learning how to read smart contracts should be mandatory for anyone in the crypto game, but we all know that won't ever happen.  And so the door stays open for scams, unfortunately.  Stay vigilante everyone!

Written by: nikethereum.eth / Medium

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