An unnamed victim has lost $20,000 after inputting his private key backup phrase in a fake Uniswap app available on the Google Play Store.
Scams within the cryptocurrency industry come in different shapes and forms, including impersonating legitimate applications downloadable from trusted establishments.
A popular digital asset commentator recently warned the community about such a scam using the Uniswap name, resulting in the loss of $20,000.
Uniswap is a sort of decentralized exchange (DEX) running on the Ethereum blockchain that enables users to swap various tokens. Its popularity exploded this year, evident from the trading volumes that reached consecutive monthly highs.