Uniswap fights DeFi hackers, blocks 253 crypto addresses involved in hacks

• Uniswap has blocked 253 crypto addresses based on data from Github and their involvement in recent hacks.
• Addresses blocked by Uniswap include those linked to mixing services such as Tornado Cash, which was recently sanctioned by the US Treasury Department.
• The Uniswap UNI price is yet to start its recovery after giving almost 25% loss in the last week.

Uniswap, the leading decentralized crypto exchange, has blocked crypto addresses linked to hacks in DeFi. Wallet blacklisting is one of the few steps the exchange has taken in connection with blockchain analytics firm TRM Labs.

Also read: Everything you need to know about Dogechain: Dogecoin on steroids

Uniswap blocked wallets linked to hacks

Uniswap, the decentralized exchange has blocked 253 crypto addresses within four months of its association with blockchain analytics firm TRM Labs. This is the first time Uniswap is blocking user wallets on its platform and disclosing the same.

Blocked addresses are associated with stolen funds, Tornado Cash and other mixing services. The US Treasury Department recently sanctioned Tornado Cash for national security reasons. Tornado Cash has been linked to several hacks in the DeFi ecosystem in the past.

TRM Labs checked the addresses associated with seven different categories of illegal activity, according to charts shared on GitHub. The four key categories are stolen funds, funds from a transaction mixer, sanctioned addresses and funds from a known fraud. The remaining categories are funds from well-known hacker groups, and funds used for, among other things, terrorist financing.

Most of the addresses blocked by Uniswap can be traced back to legitimate human users, according to Banteg, a cryptoanalyst and crypto Twitter influencer.

Uniswap has over 30,000 active users based on data from Token Terminal, a crypto data intelligence platform. The number of active users has been steadily increasing since April 2022. This increase is an indication of the number of traders accessing Uniswap for their needs, and its increasing use.

UNI Price Remains Unchanged, Will Bulls Initiate Takeover?

UNI posted almost 25% losses for holders in the past week, while Bitcoin, Ethereum and leading meme coins Shiba Inu and Dogecoin posted double-digit gains. The UNI price remains unchanged in the last 24 hours.

Cheds, a leading crypto analyst and trader identified $8 as a key level for the UNI price. If bulls push the UNI price to the $8 level, the asset is likely to climb higher, breaking out of its downtrend.

UNI-USD price chart