This paper is discussing listings and not volume. No one is claiming these tokens had any amount of meaningful volume and most likely weren't even traded by a r

This paper is discussing listings and not volume. No one is claiming these tokens had any amount of meaningful volume and most likely weren't even traded by a real user. If 97% of Uniswap's volume was fraudulent then I wouldn't even give it the time of day. To fix your analogy, it's like a payment processor having thousands of fake storefronts able to accept payment. If 97% of their volume was to those fake entities then definitely shut them down but most of the volume would be Amazon and Walmart and the fake storefronts wouldn't even be a rounding error. Volume info: https://info.uniswap.org/ https://info.uniswap.org/