Beware of Losing Your Ethereum
The cryptocurrency market and digital currencies have many benefits and advantages in the new technological world, and they are also a source of money for millions around the world. But, dear user, beware of the ongoing frauds in the cryptocurrency market, as frauds have increased dramatically in the recent period, so my words are directed especially to new traders. Where some propagandists and owners of huge advertising campaigns exploit new investors in large fraud operations. We will highlight one of those scams on the Uniswap platform that led to the loss of thousands of Ethereum in a short period of users due to fraud.
First, what is the Uniswap platform?
The Uniswap platform is a digital currency trading platform that uses the ECR20 to exchange modern cryptocurrencies through its network, as it depends on the number of currencies in determining the exchange rate. Since the platform is highly decentralized, there is no way to verify currencies if they are reliable or fraudulent. It is normal for no one to buy these anonymous currencies without any definitions, but here Twitter plays its role. As many fraudulent companies exploited the new Defi project to defraud users by publishing a large advertising campaign on Twitter that those currencies would rise 10 times within 24 hours. Or that it will be listed on large platforms soon, so people start buying those currencies in exchange for Ethereum. But they are surprised that these currencies are fraudulent. The closest article to this is the exploitation of the current defi coins' names in creating fraudulent coins with similar names, as a vivid example of this is the Ampleforth coin bearing the symbol (AMPL) and its imitation with the TRUAMPL fraudulent project that bears the symbol (TMPL).
We cannot question the Uniswap platform and the service it provides, but we have to beware of the users of that platform in the scams that many users have been exposed to after being swept away by fake rumors. So, you should be careful, dear trader, to protect your capital and buy reliable currencies. Even if you want to buy new currencies, you should carefully study the currency project and the companies that support it before you invest your money in it.
