I found a trending coin on Coinmarketcap some days ago and I bought some with $10,000.
Few minutes later, my $10,000 was showing $22,000. I decided to cash out my gains, but I couldn't.
I had no idea ghat it was a honeypot.
I only found out when I wanted to sell. I tried to sell, but the transaction kept failing. I wondered what was wrong, so I did little finding on Twitter about the token.
Only to find out that it was trending on Coinmarketcap because it was a honeypot and people got scammed.
Yeah, I should've known better. I made this dreadful mistake because of a thread I saw on Twitter that said to ape into trending coins for quick gains. Now my money is gone.
This was a harsh lesson in not just aping into any project because it was "trending". Way more research is needed.
- Lui Wang