Prominent decentralized exchange Uniswap has confirmed that it has fired a prominent developer over his involvement in a $25,000 memecoin rug pull. 

The developer in question, AzFlin, or Allen Lin, orchestrated a rug pull hours after initiating the deployment of the FrensTech meme coin. 

Uniswap Moves To Fire AzFlin

Allen Lin, the Uniswap developer at the center of the storm surrounding the FrensTech meme coin rug pull, has lost his job at Uniswap. The sacking was confirmed in a post on X by Uniswap founder Hayden Adams, with Uniswap moving quickly to distance themselves from the actions of their former employee. 

“Wanted to let people know this person is no longer with the company. Not behavior we support or condone.”

AzFlin lost his job at the decentralized exchange following the FrensTech meme coin rug pull that saw investors lose 14 ETH, valued at around $25,900. The meme coin was launched on the social platform of the Coinbase Layer-2 base program, friend.tech. 

How The Rug Pull Was Orchestrated 

A pseudo-anonymous user on X going by the name UniswapVillain initially made the Uniswap community aware of the fact that AzFlin had rug-pulled a meme coin project just hours after creating it. UniswapVillain noted that AzFlin initiated the rug pull by withdrawing support that was previously added to enable the trading of the FRENs token. Once the project had accumulated 14 ETH in fees, AzFlin removed liquidity and pocketed all the funds collected by the project. 

The rug pull was orchestrated via the Hop Protocol, a decentralized bridge that allows users to transfer tokens between different blockchains. Furthermore, UniswapVillain added that the developer did not just remove liquidity from the project and meme coin. He also sold all the coins from which he had withdrawn the liquidity. He also added that the situation was particularly concerning, given AzFlin’s association with Uniswap, one of the most prominent decentralized exchanges. 

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

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Author: Amara Khatri

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