GoPlus API reveals the true face of risky tokens on Ethereum's second-layer network

In the craze of Web3.0, a new type of investment product, meme coin, has attracted the attention of many investors with its unique charm. However, like hunters in the dark, criminals have also set their sights on this field. They use the guise of meme coins to design a series of risky tokens in an attempt to conduct fraudulent activities on the chain.

Characteristics and risks of risky tokens

These risky tokens may have the following characteristics:

Unlimited issuance by contract creators: This means that the issuance of tokens can be increased at will, thereby diluting the value of investors' holdings.

Difficult for users to sell: Tokens may face liquidity problems, making it difficult for investors to sell them when needed.

Malicious blacklisting and whitelisting: The transfer or transaction of tokens may be maliciously controlled by the contract creator through the blacklist and whitelist function.

Once investors accidentally purchase these risky tokens, they may face the risk of losing funds.

The role of GoPlus Security API

In order to protect the rights and interests of investors, GoPlus Security API plays an important role. By analyzing real on-chain data, it can reveal the situation of risky tokens that have been popular on Ethereum's second-layer network recently. Through this tool, investors can get a clearer understanding of the true face of these tokens and make more informed investment decisions.

Investor precautions

While pursuing investment returns, investors also need to remain vigilant and avoid falling into the trap of criminals. Here are some suggestions:

Understand the issuance mechanism of tokens: Before purchasing tokens, understand its issuance mechanism, additional issuance rules and liquidity.

Pay attention to the trading history and liquidity of tokens: Check the trading history of tokens to understand its market activity and liquidity.

Be wary of potential risks of tokens: Pay attention to whether the tokens are maliciously controlled or have other potential risks.

In short, by utilizing the GoPlus Security API and paying attention to the potential risks of tokens, investors can make on-chain investments more safely.