Uniswap has started to warn traders about the problems of the HEX token

Decentralized exchange Uniswap labels HEX as unreliable token amid claims from US exchange regulator

Cryptocurrency exchange platform Uniswap now warns users about problems with the HEX token. Blockchain journalist Colin Wu drew attention to this on Twitter. Now, when entering the HEX ticker, the decentralized exchange marks the asset as untrustworthy.

Wu claims that the token is not available for trading. However, as the editors found out, the token itself is still available, although it came under the close attention of the trading platform. The site also acknowledged that the token "is not often exchanged for Uniswap", but did not specify the cause of the problems.

Uniswap started displaying a warning on HEX just a couple of days after claims against the token by the US Securities and Exchange Commission (SEC). The US exchange regulator accused the creator of HEX, Richard Hart, of violating securities laws and fraud.

Recall, the SEC claims that Hart raised more than a billion dollars through his projects Hex, PulseChain and PulseX. At the same time, the entrepreneur was actually engaged in the sale of unregistered securities under the guise of tokens, according to the SEC. The commission also charged Hart and PulseChain with a $12 million scam. With the alleged amount, the entrepreneur bought various luxury goods, including sports cars, watches, and also, allegedly, the world's largest black diamond weighing 555 carats known as Enigma.

Against the backdrop of allegations, the rates of HEX, as well as PLS and PLSX tokens, collapsed by more than 40%. Richard Hart himself pretended not to see the accusations from the SEC, but limited the ability to leave comments under his tweets.