Uniswap founder Hayden Adams warns users after a mid-six-figure wallet was drained by a fake search ad imitating the platform.
A warning from Hayden Adams has renewed attention on scam ads that imitate real crypto platforms.
Adams issued the statement after a user reported losing an entire mid-six-figure portfolio due to a fraudulent search result posing as the official Uniswap website.
Adams Warns Users About Fake Search Ads
Hayden said on X that scam ads continue to appear even after repeated reporting.
He added that fraudulent apps and websites have targeted Uniswap users during periods when the platform waited for approvals on official channels.
These cases often involve search engines showing ads that look identical to the legitimate platform.
Scammers pay for placement so that the fake result appears before the real site. Users may click the link believing it is safe and then connect their wallets.
The wallet connection process can allow scammers to approve transactions that drain funds.
Crypto platforms have shown this pattern for years, and Adams said the issue has continued without interruption.
Search engines remain a key channel used by scammers. Their ads can mimic branding, logos, and site layouts, and this makes it difficult for new users to detect the fraud.
Adams stated that his recent warning was intended to reduce new cases as more reports surface.
Victim Reports Loss After Fake Result Appears
An X user known as “Ika” shared a detailed account of losing his assets after clicking a fraudulent result.
He said his wallet was drained despite taking care with his online activity. In a long message, he wrote that “getting drained isn’t bad luck” but rather the end of a series of small mistakes.
Ika also shared a screenshot showing a fake URL marked as the top Google result for Uniswap. The display looked official, which made it difficult to identify the scam.
His experience matched earlier reports where victims clicked similar ads that used authentic-looking design and layout to mislead users.
This is not a new threat. In October 2024, scammers used a near-identical copy of the Uniswap interface that added extra buttons and redirected users to harmful actions.
Reports at the time indicated that the fake website had been designed to capture wallets through normal user behavior.
Related Reading: New Uniswap Proposal Targets All V3 Pools and 8 New Networks
Crypto Scam Losses Rise Across Multiple Platforms
Industry data shows that scam activity increased at the start of the year. January saw the highest amount stolen in 11 months, with losses reaching 370.3 million USD.
This figure represented a major rise from the same month in 2025, and analysts noted the role of phishing and social engineering.
CertiK reported 40 exploit and scam cases during January. The largest single loss came from a social engineering attack that cost one victim around 284 million USD.
These incidents show that scams continue to affect both experienced and new users.
Security firms say scams often focus on users searching for platforms or tools. Fake ads and fraudulent search results remain among the most common techniques used.
These attacks rely on user trust, and they exploit familiar web interfaces to gain access to funds.
Source: https://www.livebitcoinnews.com/uniswap-founder-blasts-fake-crypto-ads-following-major-victim-loss/
