SNEAK PEEK

• Trusted Uniswap affiliate, AzFlin, was involved in a controversial Frenstech move.
• AzFlin unexpectedly removed 14 ETH using the HOP protocol.
• Early Uniswap followers amplified the project’s intrigue.

In an astonishing twist, a recent cryptocurrency venture named Frenstech ($FRENS) has become the epicenter of controversy. The project, heralded by a known Uniswap employee, reportedly took an unexpected downturn that has shocked many in the industry.

Frenstech (@FrensTech) $FRENS was deployed a few hours ago by the dev, @AzFlin a Uniswap employee.

One hour and four minutes ago he effectively rugged the project moving 14 ETH off of Base chain through HOP. https://t.co/UUpz1PYXLQ

Multiple people have confirmed he is the dev… pic.twitter.com/xMyQxbqj0f

— 👀 (@UniswapVillain) August 12, 2023

According to reports, at the helm of Frenstech was its developer, identified on X Corp as AzFlin. Significantly, AzFlin is not a newcomer to the world of cryptocurrencies. He is associated with Uniswap, a significant player in the decentralized finance realm. Hence, his involvement lent the project a veneer of trustworthiness and credibility. However, the recent chain of events tells a different story.

Within hours of Frenstech’s deployment, AzFlin purportedly siphoned off 14 ETH from the Base chain. He utilized the HOP protocol for this unexpected move, as documented on basescan.org. Additionally, the shocking part isn’t just the removal but the fact that this transaction involved funds accumulated from liquidity fees.

Moreover, besides the withdrawal, the tokens he removed from liquidity were reportedly sold. This not only raised eyebrows but has led to a wave of disbelief and distrust. Furthermore, multiple sources have verified AzFlin’s pivotal role in the Frenstech project. In addition, numerous early Uniswap employees following the project on Twitter added to the intrigue.

Notably, what makes this situation even more baffling is the seeming transparency associated with AzFlin. The crypto world is no stranger to ‘rug pulls,’ but it’s unusual for someone who is publicly associated and doxxed to indulge in such actions.

In conclusion, the Frenstech incident serves as a reminder. Even in a realm where trust is decentralized, due diligence remains paramount. As the crypto community grapples with this revelation, the importance of transparency and accountability stands out more than ever.

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• Source: https://investorbites.com/uniswap-insiders-new-project-frenstech-faces-immediate-scandal-with-14-eth-siphon/