US court rejects class action lawsuit against Uniswap for 'scam currency'

A federal judge in the United States ruled on Monday to dismiss the remaining state law claims against Uniswap Labs and founder Hayden Adams, and to prohibit further litigation, marking the official end of this nearly three-year class action lawsuit. The plaintiff accuses Uniswap of providing a trading platform for "fraudulent coins" issued by third parties, but Judge Katherine Polk Failed believes that smart contract code writers should not be held responsible for third-party abuse, and the plaintiff has failed to prove that Uniswap had actual knowledge of fraud. After the verdict was announced, UNI token rose 6% to $3.92.