DEFISCAMS

China's bootleg Uniswap offline conference, fake CEO in attendance, media apologizes for misreporting.

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China

In Shenzhen, China, an event claiming to be the "First Asia-Pacific Uniswap Summit" turned out to be completely unofficial, with a fake Uniswap CEO in attendance. This incident has caught the attention of Uniswap's official team, the real Uniswap CEO Hayden Adams, and the Western community. Media outlet Foresight was also called out by online sleuth ZachXBT for misreporting this news, leading Foresight to issue an apology afterwards.

Bootleg Uniswap Conference in Shenzhen Goes Overboard: Fake CEO Gives Public Speech

A video of a bootleg Uniswap conference held in Shenzhen, China was unearthed by Twitter account @thegrasscrown, where heavy promotion of the UNI token took place. The event falsely claimed to be the "First Uniswap Asia Summit," featuring a fake Uniswap CEO named Mike Hanlon instead of the real CEO Hayden Adams. The conference also included several Western faces, speeches advocating token purchases, and explanations of a token economy completely different from Uniswap's. This exaggerated behavior left the official Uniswap team dumbfounded.

As this counterfeit Uniswap was promoting a content with a multi-level marketing profit-sharing mechanism, dForce founder Yang Mindao sarcastically commented: "It seems their token mechanism is more creative than the official one."

Uniswap CEO Reacts: Outrageous, Who Are These People?

Uniswap CEO Hayden Adams retweeted the video, stating that it was outrageous and that he had no idea who these people were. He confirmed that they were not affiliated with Uniswap or the Uniswap Foundation, labeling the event as likely a scam.

Crypto Detective ZachXBT Calls Out Foresight for Misreporting

Crypto detective ZachXBT directly called out the Chinese media Foresight stating why Foresight's website had the complete promotion of this event. In the screenshot provided by ZachXBT, Foresight had a report on the Uniswap Asia community, also providing the website for the fraudulent event.

Foresight Apologizes and Explains: Removed Third-Party Column

Foresight responded stating: "We apologize to readers for the inaccurate information regarding the Uniswap Asian Summit that appeared on our website. We have promptly removed the related content and third-party columns. The style and quality of third-party content previously met our platform's standards, but inaccurate information was later published. Foresight News will now conduct a thorough review of all third-party columns and content, strengthen content review and publishing processes to prevent similar incidents from happening again."

Dilemma of Chinese Crypto Media: Advertisements as the Main Source

Chinese crypto media allowing third-party content publication indeed carries risks, but it is also a common source of revenue for them.

A recent report by the Chinese tech media Deep Tide commented: "In a sense, there is no truly 'media' in the Chinese-speaking market, more like PR agencies wearing a media coat. Meanwhile, the content is becoming increasingly homogeneous, high-quality original content is becoming scarce, most are being recycled and translated, and have become promotional machines for projects and exchanges. However, in the face of the overly internalized content environment, various media outlets are beginning to explore their own characteristics and directions."

(Media Misreporting Case: Misinformation about Taiwan's FSC)