After discovering that an employee of the decentralized exchange Uniswap was “effectively providing support” for Memecoin, the exchange’s founder announced that this person is no longer working at Uniswap.
Uniswap founder Hayden Adams announced a layoff on Platform X in what some on the team called “pulling the rug”.
Uniswap severed ties with the company after an employee was involved in a “rug pulling” incident
An employee of Uniswap, one of the largest decentralized exchanges, was recently involved in a “rug pulling” incident. However, Hayden Adams, the company’s founder, made the statement.
Responding to a post detailing how EzFlin, who developed a memecoin called Frenstec, backed and “effectively hardened” it, Adams said, “I wanted to let people know that this person is no longer on our team. This is not behavior we endorse or tolerate,” he said.
AzFlin included the name Alan Lin, a smart contract engineer at Uniswap, which was used on Twitter and GitHub. AzFlin previously served as Chief Engineer at NFT marketplace Genie.
Shortly after Frenchtech Memecoin was deployed to the Base platform, Ezflyn transferred 14 Ethereum ($25,900) worth of coins from Base via a cross-chain protocol hop. “He earned 14 ETH minus the added liquidity from the fees,” explained one user.
Ezflynn later told the platform, “To be honest, it’s net neutral.”