A class action lawsuit has been filed against trading platform Uniswap and its investors, alleging insufficient customer protection and encouraging fraudulent transactions.
The complaint was sent by US citizen Nessa Risley,claiming that non-compliance with KYC standards and lack of registration as a broker-dealer of a decentralized exchange allows attackers to carry out various frauds on it. The plaintiff actually accuses the management and investors of the project of connivance or even involvement in illegal operations.
According to Risley, Uniswap employeeswell aware of all the factsfraud on the stock exchange, but turn a blind eye to it in order to make more profit. Moreover, the lawsuit states that in some cases the team encourages illegal activities (or even participates in them), guaranteeing huge commissions for themselves and issuers – income from the sale of tokens, regardless of their reliability.
In her opinion, the company is being pushed to inactioninvestors seeking to increase dividends. Adding that an audit of exchange activity disclosures under US securities law would help incriminate DEX management and protect customers.
Nessa Risley seeks regulation of the SEC platform and wants the court to return with interest the funds she lost while trading on the exchange.
Representatives of Uniswap Labs denied all allegations, calling them groundless, and also announced their intentions to counter them.
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