Uniswap Disables HEX Trading Over Legitimacy Concerns!

[Sophie Robert]

Uniswap, a decentralized exchange, has halted the trading of HEX cryptocurrency through its front end. The investment program, which claims to offer high yields, has faced allegations of being a scam.

HEX deemed as unregistered security by the SEC
Earlier this week, the SEC declared HEX as an unregistered security in its lawsuit against Richard Schueler, known online as Richard Heart, and his projects Hex (HEX), PulseChain (PLS) and PulseX (PLSX), alleging he raised over $1 billion across three different unregistered securities offerings beginning in 2019.

The SEC also mentioned Uniswap in the lawsuit when it described why it chose the U.S. District Court for the Eastern District of New York as its venue for the case.

HEX Stays Strong
Despite criticism from investors and accusations of fraudulent activity, HEX has still managed to garner a large following. As of October 2020, HEX was trading for approximately $0.006. However, Uniswap’s decision to remove the cryptocurrency could deal a significant blow to its value. The move further underscores mounting concerns among investors.

• Uniswap has removed the HEX token from its interface.
• The move comes two days after the SEC alleged in a lawsuit that HEX is unregistered security and also mentioned Uniswap in the case.

Source - https://twitter.com/goldk3y_/status/1686505030075973632