More than 97% of Uniswap tokens are recognized as potentially dangerous

According to the Zero-dimensional scam detection study conducted by the University of Barcelona, 26,869 out of 27,500 tokens on the Uniswap decentralized exchange (DEX) are potentially dangerous, as they have vulnerabilities that can lead to loss of funds.

Experts Bruno Mazorra, Victor Adan, and Vanessa Daza have concluded that 97.7% of tokens on Uniswap contain malicious code or gaps in smart contracts. At the same time, any developers can add tokens to the platform, and the exchange itself does not conduct internal security checks before listing. Similar threats exist on other DEXs, where assets are not controlled before they are placed on the platform.

Uniswap is a decentralized cryptocurrency exchange protocol created by Hayden Adams on the Ethereum blockchain in 2018. The platform uses the native UNI token. As of November 2, the digital asset is trading at $ 7.03 (down 2.63% from the previous day).

Earlier, we talked about the so-called Uniswap scam, which is essentially a message from spambots. The message received by the cryptocurrency owner contains a link to malware. By clicking on it, the user can send his or her cryptocurrency assets to the attackers' wallet.

Back in early August, the Uniswap Labs ecosystem development team asked the cryptocurrency community for $ 74 million to develop the company. The Uniswap Foundation (UF) wanted to support the decentralized growth of the Uniswap protocol and ensure the stability of its own ecosystem. As we can see, the crypto exchange is not doing too well at the moment.