Hayden Adams, the founder of the centralized exchange Uniswap, said the platform cut a developer after he orchestrated a rug pull rug pull.
According to investigation by user under the handle UniswapVillain, on August 12 in L2-network Base from Coinbase appeared the meme token Frenstech (FRENS) built on the eponymous social Web3-platform, created by developer AzFlin.
A few hours after the coin was deployed, he withdrew liquidity of 14 ETH (~$26,000) and a portion of the accrued fees via the Hop network bridge. Later the developer sold all the tokens.
According to LinkedIn, AzFlin is the alias on X (formerly Twitter) and GitHub for Allen Lin, a smart-contracts engineer who has worked at Uniswap since July 2022. He was previously the lead developer of the NFT marketplace Genie.
After the incident, Lin boasted about his “achievement” on social media.
“Was fired from Uniswap, but gained 600 new followers and villain status on Crypto Twitter,” he wrote.
In July 2022, in the United States, the former product manager of the cryptocurrency exchange Coinbase Ishan Wahi and his brother Nikhil were arrested. They were charged with fraud involving insider trading. Later Nikhil pleaded guilty.
In August that year, the accused insider-trading former OpenSea employee Nathaniel Chastain challenged the verdict. In June, jurors found him guilty of fraud and money laundering.
Earlier, Huobi accused a former employee of illegal trading. According to media reports, he allegedly opened a retail trading account in his father’s name and provided a $20m line of credit from the exchange for subsequent trading.