Quote from: albon on August 27, 2024, 09:43:48 PM

Honeypot tokens have spread widely in recent years, especially in the Solana market, with the rising hype around meme coins.

The scam type with honeypot scam tokens started with Ethereum blockchain, then Binance Smart Chain and some other chains, not actually began with Solana blockchain. This scam wave on Solana blockchain rose last two years with the unbelievable rally of Solana that triggers a massive tide of meme tokens in this Solana ecosystem.

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Suppose the investor does not conduct his research and analyze the token contract and liquidity (locked), the number of holders, and so on and use the Honeypot Checker Tools and review the project in all its aspects. In that case, he will inevitably lose his capital in tokens he cannot sell.

Even they don't do due diligent research, if they receive tokens in their wallets with not brand logo, it's big red flag. If they are careful people, they will not interact with those tokens. Being scammed with tokens already appeared on Coinmarketcap, Coingecko or DEX is another level, and at least scam project teams actually spent more efforts for their scam.

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It is good that you have updated the topic now and added these valuable sources and some useful tools.

Just try to be helfpul and kindly share what I know.