Uniswap founder Hayden Adams warns users to beware of fraudulent ads impersonating the platform and mentions a case where a victim reportedly lost all their assets.

Earlier, January this year became the month with the highest amount of crypto scam funds stolen in nearly 11 months.

Adams posted on X on Friday: "Despite repeated reports over the years, scam ads continue to appear." He also said: "During the several months we waited for App Store approval, scam apps impersonating Uniswap had already appeared."

Scammers are increasingly buying ads related to keywords like "Uniswap" on mainstream search engines, and when crypto users search for related content, the top results look like official links. Unaware users may then connect their wallets and approve transactions, allowing scammers to transfer away all their funds.