Uniswap Starts Blocking Addresses Linked To 'Blocked Activities'

[tokyohd]

Decentralized Finance Crypto Exchange Uniswap Starts Blocking Addresses Linked To 'Blocked Activities'

Uniswap, one of the main decentralized finance exchanges in the cryptocurrency world, is now taking measures to ensure illegal funds cannot be transacted using its platform. The company has already started blocking addresses linked to “blocked activities” and will apply a filter with data provided by TRM Labs, a blockchain analysis firm that focuses on detecting illegal activities.

What do you think about this Step from one of the most decentralized finance exchange UniSwap?

Airticle Link:
https://news.bitcoin.com/decentralized-finance-crypto-exchange-uniswap-starts-blocking-addresses-linked-to-blocked-activities/

[bittraffic]

0x9fd twitter user us using his Russian IP address which Uniswap must have comply to block the country. They are starting to comply with the law, DEX I think are going to be forced to do it. Feels not decentralized anymore. The link about it is here https://help.uniswap.org/en/articles/6149816-address-screening-faq

Isn't there a version of Uniswap in .onion? It must be an option for them.

[jackg]

This probably just means more actually decentralised networks will rise up to take the place of uniswap.

A clone of bisq that functions like uniswap might appear, there's certainly a few main dexes already anyway to compete with uniswap (eg sushiswap and others).

[sheenshane]

0x9fd twitter user us using his Russian IP address which Uniswap must have comply to block the country. They are starting to comply with the law, DEX I think are going to be forced to do it. Feels not decentralized anymore. The link about it is here https://help.uniswap.org/en/articles/6149816-address-screening-faq

And here's what he tweeted on Twitter..
As I saw in the comment section, it might be he used a VPN before and the IP address is linked to a Russian country server which is possible can be suspected of having illegal activities.

It seems not a decentralized exchange anymore and it could be people or traders who might criticize that exchange that is truly blocked, traders.
This exchange isn't good anymore, who's next?

[stompix]

Decentralized Finance Crypto Exchange Uniswap Starts Blocking Addresses Linked To 'Blocked Activities'

Repeat after me, decentralized exchange blocks users, decentralized exchange blocks addresses and ips, and if you're wondering why I ask you this do it till you finally realize that a truly decentralized exchange won't be able to do such a thing.
This is why the whole Defi is just a buzzword and the whole industry is just a failure, there is nothing truly decentralized, it's just like the FinTechs were supposed to change how we do business with the banks and credit cards and in the end, ended up becoming banks and using the same infrastructure.

Same here, all these Defi exchanges are turning into things just as centralized as the traditional cex.
Not to mention that the shitcoins are now just as centralized as you can get so they might simply block your address from transacting on a whim.

This exchange isn't good anymore, who's next?

All! Sooner or later all of them will end like this.

[Doan9269]

As for me personally i never see them as a decentralized exchange right from onset, i don't know much about defi projects, finance or exchange as the case maybe but users have to understand that any exchange that is able to trace, freeze or exercise dominion that overide you as the user and owner of the account is no more a decentralized exchange, in other way if one can not get guaranteed of maximum protection over such exchange on user's data and privacy then it's as simple as a centralized exchange and nothing added.

[Outhue]

My question for you guys is where is the decentralization in the crypto space? I keep telling a friend that decentralisation in crypto space won't work out 100% because this will increase the crime rate in crypto space, the law will force those dex to take actions or face the consequences of nailing them for giving criminal a clear passage to accomplish their crime activities.

[Upgrade00]

What do you think about this Step from one of the most decentralized finance exchange UniSwap?

It seems not to be so "decentralized" after all.
For this to work in a decentralized system, there needed to have been consensus from the community which share administrative powers, but in this case, those powers are centralized and controlled by the company.

My question for you guys is where is the decentralization in the crypto space?

Decentralization is up to you. Use a decentralized coin, like Bitcoin, stored on a non custodian, open source wallet and transact over decentralized P2P platforms.

I keep telling a friend that decentralisation in crypto space won't work out 100% because this will increase the crime rate in crypto space,

The above steps work 100%
Centralization does not reduce crime rate, it just allows the government to monitor and control your finances.

[Bitcoin_Arena]

It started with them blocking access to certain tokens less than a year ago and then a few months later they started sharing wallet addresses to "a research firm" and now here we are.
Anybody who thinks Uniswap is decentralized is clueless, just like this deluded guy who couldn't understand anything I tried to explain to him some time back.

Most of the so-called smart contract run dexes are just puedo-dexes.

[dansus021]

i would say this good and bad the good side yes nowadays there is lot of blockchain security firm and try stop the bad guy from laundry the money. but the bad side they could miss blocked or thing like that right

[pooya87]

Decentralized Finance Crypto Exchange Uniswap Starts Blocking Addresses Linked To 'Blocked Activities'

These two are contradictory. If this platform were really decentralized then they would have never been able to even think about blocking anything!

Which is why I always say that just because something uses the word "decentralized" it doesn't mean they are really decentralized. In fact majority of them are heavily centralized. This goes for other names they use too, for example as far as I can tell Uniswap is not an exchange platform, it is a weak token swap platform.

Be warned that this can happen in any other platform too that claims to be decentralized but is either centralized or have some traces of centralization (like Bisq).

[Poker Player]

These two are contradictory. If this platform were really decentralized then they would have never been able to even think about blocking anything!

Which is why I always say that just because something uses the word "decentralized" it doesn't mean they are really decentralized. In fact majority of them are heavily centralized. This goes for other names they use too, for example as far as I can tell Uniswap is not an exchange platform, it is a weak token swap platform.

Be warned that this can happen in any other platform too that claims to be decentralized but is either centralized or have some traces of centralization (like Bisq).

Is there any reliable list out there of exchanges that are truly decentralized and where these things can't happen?

[witcher_sense]

These two are contradictory. If this platform were really decentralized then they would have never been able to even think about blocking anything!

Which is why I always say that just because something uses the word "decentralized" it doesn't mean they are really decentralized. In fact majority of them are heavily centralized. This goes for other names they use too, for example as far as I can tell Uniswap is not an exchange platform, it is a weak token swap platform.

Be warned that this can happen in any other platform too that claims to be decentralized but is either centralized or have some traces of centralization (like Bisq).

A decentralized exchange should be regarded as an action rather than a platform or a company because I doubt the latter can ever achieve true decentralization. A decentralized exchange as an action is basically a peer-to-peer exchange between individuals with no intermediary involved, where both parties run their own self-hosted instance of free open-source software that connects directly to a decentralized network like Bitcoin through a self-hosted bitcoin full node. The decentralized exchanges (deals) like this aren't possible on Ethereum, for example, because the underlying blockchain is centralized, and the vast majority of people interact with the Ethereum blockchain through centralized platforms like Uniswap or privately-owned centralized wallets like Metamask. Everything that is built on top of Ethereum (second layers, third layers, sidechains) cannot be decentralized either because of the centralized nature of a base layer.

[dkbit98]

What do you think about this Step from one of the most decentralized finance exchange UniSwap?

Uniswap or any similar cloned website were never really decentralized, so I am not surprised by this move for blocking addresses in exactly the same way like centralized exchanges are doing.
I don't know what more proof anyone needs to realize their is nothing decentralized about that, and if you dig deeper you will find more dark secrets who operates with fake dex exchange.
Only true decentralized exchange I know is Bisq, used with Bitcoin without some shady extension mask wallets like for uniswap.

[FuloosIO]

Decentralized Finance Crypto Exchange Uniswap Starts Blocking Addresses Linked To 'Blocked Activities'

Uniswap, one of the main decentralized finance exchanges in the cryptocurrency world, is now taking measures to ensure illegal funds cannot be transacted using its platform. The company has already started blocking addresses linked to “blocked activities” and will apply a filter with data provided by TRM Labs, a blockchain analysis firm that focuses on detecting illegal activities.

What do you think about this Step from one of the most decentralized finance exchange UniSwap?

Airticle Link:
https://news.bitcoin.com/decentralized-finance-crypto-exchange-uniswap-starts-blocking-addresses-linked-to-blocked-activities/

I think this is personally a great idea, Cryptocurrencies for many years have always had some kind of link to illegal activities, doing this will slowly prevent illegal transactions and actually help regain trust in the Crypto world, allowing countries/governments that we do not actually support illegal activities and the ability to blacklist these addresses, showing the possibility is there and can be achieved.

Personally, a lot of users will disagree with this, saying DEX should be fully decentralized and the control should be theirs, but not everyone can be pleased.

[stompix]

I think this is personally a great idea, Cryptocurrencies for many years have always had some kind of link to illegal activities, doing this will slowly prevent illegal transactions and actually help regain trust in the Crypto world,

Why do you need this "trust" ?
Oh wait, I already know, because you're not interested in what cryptos are but because you care so much about the price, am I guessing right?

Bitcoin already has all the trust it needs, that's why is valued at this ~40k, not because some government says something, bitcoin is valuable exactly because it's your keys your money and nobody can touch it, the moment any cex or so-called de or authority will be able to ban addresses, reverse transactions just because they think something is not right that's the moment crypto will be a failure, it will be just like tradable stocks nothing else.

My question for you guys is where is the decentralization in the crypto space? I keep telling a friend that decentralisation in crypto space won't work out 100% because this will increase the crime rate in crypto space, the law will force those dex to take actions or face the consequences of nailing them for giving criminal a clear passage to accomplish their crime activities.

You can't force a true DEX to do anything!
There is nothing stopping a truly decentralized exchange just like it's impossible for someone to block everyone from saying "hi" to other people, in a true dex there is no central point that can intervene in anything, it's decentralized! so no administrative authority!

[hugeblack]

Is decentralization a commercial term used to get money or a concept, any platform controlled by one party in the decisions will not be decentralized and therefore we can not consider Khaled decentralized at all.
 
Frankly, I did not look into the details of the news, but the fault is not from them, but from the people who continue to pump money into this industry, which calls itself decentralization.

Everyone who supports DEXs decision to ban anyone, it gives it the power to get the advantages of centralized platforms and does not take any risks (they will not help you if you lose your money, you will not get a private key, you will pay high fees)

[Darker45]

Is decentralization a commercial term used to get money or a concept...

Yes, definitely, it is a heavily prostituted keyword which is exploited obviously for the sake of keeping up with what's in and cool nowadays.

Unfortunately, I'm afraid it seems people are more easily convinced with the decentralized banner because it involves more than a little technical knowledge to actually scrutinize whether or not a platform or a project is truly decentralized.

Is there an easy way to tell whether a platform like UniSwap is truly decentralized or not? Or do ordinary people have to wait for instances like this to finally determine that such a platform is indeed centralized? Do they have to stumble upon key terms such as block, freeze, ban, and whatnot in the news to finally realize that something's wrong with a particular platform claiming to be decentralized?

[Rikafip]

This is why the whole Defi is just a buzzword and the whole industry is just a failure, there is nothing truly decentralized, it's just like the FinTechs were supposed to change how we do business with the banks and credit cards and in the end, ended up becoming banks and using the same infrastructure.

Reminded me of one of the the best memes I've seen lately.

Same here, all these Defi exchanges are turning into things just as centralized as the traditional cex.

Thing is, majority of people that are using DEX couldn't care less about the actual decentralization so I don't think that any of the similar measures will affect their business too much. On the contrary, as we could see by some responses they even welcome it.