The California Department of Financial Protection and Innovation (DFPI) has alerted investors and traders about phony entities posing as Uniswap and Wintermute. Alarms have also been sounded about 14 registered entities peddling Advance Fee scams.
A victim highlighted that a UniSwap LLC advised them into investing $14,000 in a Uniswap liquidity mining venture. The victim, as per DFPI, met a person calling themselves Heitor Ryan on the internet who claimed to be working at a bank. They chatted as friends for months, wherein Heitor Ryan tricked him into investing on a crypto website that turned out to be a fraud.
Another victim was lured to send over $100,000, in a separate scam, which was believed to be a crypto trading company Wintermute. The DFPI said the victim met a person called Rosalie on WhatsApp and was introduced to eth-Wintermute dot net. The victim was told that he would generate dividends on liquidity pools every six hours based on the amount of money he pumped into the MetaMask app wallet.
It should be noted that phishers and other bad actors spoof popular crypto platforms to trick investors. As such, users should always triple check the domains they interact with.