Decentralized crypto exchange Uniswap fired an employee for misconduct with FRENS memcoins. An employee embezzled over $25,000 using a rug pull scheme.

The developer, known in the crypto community as AzFlin, has come under fire and accusations for manipulating FrensTech, a memcoin associated with friend.tech, a new social platform based on the Base blockchain.

Shortly after the launch of FrensTech on Uniswap, AzFlin withdrew the liquidity it had originally provided. The developer managed to get 14 ETH worth about $25,800, which was withdrawn through the Hop Protocol. This tool makes it easy to transfer crypto assets across various blockchains. AzFlin not only withdrew liquidity, but also sold the withdrawn crypto assets, which greatly surprised the crypto community, since AzFlin is considered a public figure and held a good position in Uniswap.

Many users have expressed concern over this incident, urging marketplaces to step up their self-regulation. The actions of one person can have far-reaching consequences, badly affecting the reputation of platforms like Uniswap.

Uniswap founder Hayden Adams took to Twitter to comment on the situation. He wrote that the exchange condemns the actions of AzFlin. The behavior of this employee is contrary to the values ​​of the company, so she ended her employment relationship with him.

Recall that recently unknown hackers hacked Adams’ Twitter account by posting phishing links on his behalf to a fraudulent site for distributing tokens.