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Kyle Baird

Uniswap class action over scam tokens fully dismissed with prejudice in New York court

A federal judge in the Southern District of New York has dismissed with prejudice the remaining state-law claims in a class action targeting Uniswap Labs and founder Hayden Adams over scam tokens traded on the protocol. The court held that merely providing a decentralized trading platform and open-source smart contract code does not create liability for alleged fraud by unidentified third-party token issuers, and Uniswap’s UNI token rose 6% to $3.92 following the ruling.
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