You can only buy but not sell, be careful of Pixiu coins!

#貔貅盘 , usually refers to a situation where a token can only be bought but not sold, and the developer will remove the LP profit after a period of time, and Rug Pull the buyer. The delayed Pixiu is that the token can be traded for a short time after it is opened for trading, and then it becomes a Pixiu state. For this type of Rug Pull technique, many contract detection tools have not yet added corresponding detection functions, which is becoming one of the main profit-making methods for malicious developers.

Prevention methods

Pixiu coins are the most common scams for leeks on the chain, and the forms are varied, making prevention very difficult. We have the following suggestions to reduce the risk of being cut by Pixiu:

Check whether the contract is open source on the blockchain browser (such as etherscan). If it is open source, analyze its code to see if there is a Pixiu vulnerability.

If you don’t have programming skills, you can use Pixiu identification tools, such as Token Sniffer and Ave Check. If the score is low, it is likely to be Pixiu.

Check if the project has an audit report.

Check the project’s official website and social media carefully.

Only invest in projects you understand and do your research (DYOR.

Use tenderly and phalcon fork to simulate selling Pixiu. If it fails, it is confirmed to be a Pixiu token.