Uniswap beats class action alleging it assisted crypto ‘rug pulls’

A federal judge said Uniswap isn’t responsible for scam tokens traded on the crypto platform, a decision that its founder Hayden Adams said was a “sensible outcome.”

Uniswap Labs and founder Hayden Adams have won a class action lawsuit that sought to hold them liable for scam cryptocurrencies traded on its platform, ending a four-year legal saga.

Manhattan federal judge Katherine Polk Failla dismissed a suit against Uniswap on Monday with prejudice, saying the class group can’t hold Uniswap liable for the misconduct of unknown third-party token issuers.

It was the class group’s second attempt to sue Uniswap, which amended their complaint in May to focus on claims of state-level consumer protection violations, arguing that Uniswap allowed “rug pulls and pump and dump schemes,” according to Judge Polk Failla’s order.

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