97% of Tokens Launched In Uniswap Were Rugpulls

97%-of-Tokens-Launched-In-Uniswap-Were-Rugpulls
  • The most rug pulls have ever been recorded in crypto history on Uniswap.
  • Research showed that 97.7% of the tokens introduced on Uniswap were scams.
  • Widespread criticism was leveled at the research.

The most recent Uniswap data shows that a wave of rug pulls has severely hurt cryptocurrency investors. Uniswap is the premier decentralized crypto exchange that runs on the Ethereum blockchain.

Notably, the most reputable cryptocurrency exchange is now Uniswap. The most recent rug pull report, however, has entirely tarnished the story. The results showed that 97.7% of the tokens introduced on Uniswap were scams.

“We provide the most extensive labeled dataset of Uniswap rug pulls to date, including the source code, the liquidity, the prices, the mint/burn, and transfer events. The dataset includes all tokens from 04/05/2020 to 03/09/2021. In total, we labeled 26957 tokens as scams/rug pulls and 631 tokens as non-malicious.” – Catalan researchers

The biggest decentralized exchange, Uniswap, opened in November 2018. A total of 40,000 ERC-20 tokens worth over $7 billion are locked and tradeable in the Uniswap system. The report complies with all standards and eliminates the possibility of incorrect conclusions.

In regard to thorough analysis, the final list has 27,588 labeled tokens, of which 26,957 are malicious and 631 are not. There are 2,087 occurrences without LP Burn and 24,870 quick rug pulls in the malicious. Conversely, according to the research, there are much fewer helpful tokens than bad ones.

Widespread criticism was leveled at the research that was recently released by crypto influencer Drnick on Twitter. 

For instance, many have questioned the study’s justification. Some Twitter users argued that the report doesn’t provide enough evidence to support such a conclusion.

Tags:
disclaimer read more

Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.

programmer & freelance writer