Some crypto traders think the report is outrageous, noting that the methodology used by the researchers is flawed.
A new study has found nearly all crypto projects listed on Uniswap between 2018 and 2021 were malicious and scam-related.
The DEX has more than 40,000 Ethereum smart contract compatible tokens hosted on the platform to provide users with options for trading different crypto assets. Over the years, Uniswap has become one of the most significant DeFi protocols in the industry, processing more than $1 trillion in trading volume since its inception.by researchers show that 98% of all the projects listed on the protocol between 2018 and 2021 were rug pulls.
The researchers surveyed 27,588 tokens, of which 631 were classified as non-malicious and 26,957 were identified as malicious. A total of 24,870 tokens labeled as malicious are quick pulls, while the remaining 2,087 are not LP burns. “To obtain the state of the Uniswap exchange and the tokens, we used the events produced by their respective smart contracts. Any node connected to Ethereum JSON-RPC API can observe these events and act accordingly. Events can also be indexed so that the event history is searchable later,” the researchers said.As expected, the latest investigation received backlash from the crypto community after it was shared on Twitter by the crypto proponent, Drnick.
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