Federal judge dismisses scam-token class action against Uniswap Labs and CEO Hayden Adams with prejudice
The Facts
- U.S. District Judge Katherine Polk Failla of the Southern District of New York dismissed the remaining claims in the Uniswap class action with prejudice.
- The lawsuit sought to hold Uniswap Labs and CEO/founder Hayden Adams liable for losses tied to alleged scam tokens (including alleged “rug pulls” and pump-and-dump schemes) traded via Uniswap’s protocol.
- Judge Failla ruled that plaintiffs could not hold Uniswap liable for alleged misconduct by unidentified third-party token issuers.
- The dismissal addressed the plaintiffs’ second amended complaint and disposed of the remaining state-law claims in the case.
- The plaintiffs’ amended theory included state-level consumer protection claims alleging Uniswap facilitated fraudulent schemes by providing a marketplace that connected buyers and sellers of tokens.
- Multiple outlets described the ruling as a notable or potentially precedent-setting decision for DeFi/open-source developers regarding civil liability for third-party misuse.
Context
What did the judge’s decision do procedurally?
Judge Katherine Polk Failla dismissed the plaintiffs’ second amended complaint with prejudice, meaning the remaining claims were thrown out and the plaintiffs cannot refile the same claims in the same form. Block FinanceFeeds
Why did the court say Uniswap wasn’t liable for the alleged scam tokens?
The court concluded the plaintiffs could not hold Uniswap Labs or Hayden Adams responsible for alleged misconduct by unidentified third-party token issuers, rejecting the theory that providing a marketplace or ordinary services amounted to liability for the alleged fraud. Cointelegraph crypto.news Block
Why is this decision being watched beyond Uniswap?
Commentators and Uniswap’s counsel/policy representatives said the ruling could influence how courts treat DeFi and open-source developers when third parties use protocols to commit alleged fraud, framing it as an important or precedent-setting signal on civil liability. CoinDesk Lookonchain CCN - Capital & Cel…
The receipts — all 21 sources
Wire services (2)
Independent coverage (19)
Facts first. Then every angle.
The day’s biggest stories in one short brief — the facts everyone agrees on, then the competing values behind the headlines. Free in your inbox.