đ” How not to get on honeypot?
Friends, imagine: a new coin, the chart is flying upwards, promises of golden mountains...
You are ready to invest, but stop! You might be facing a cunning honeypot â a trap designed to fool gullible investors.
đ„ How does this scheme work?
âą Tempting Bait. Scammers clone popular coins or create one-day projects with unrealistic promises of profits. They have a perpetually rising chart with no drawdowns.
âą Smart contract with a secret. The code contains a mechanism that allows fraudsters to block the sale of tokens after purchase. The money gets trapped!
âą Disappearance. Once scammers accumulate enough funds, they disappear, leaving investors with nothing.
đ Signs of honeypot:
âą Closed source smart contract.
âą Anonymous development team.
âą Social media with fake followers and aggressive marketing.
âą Promises of super big returns too good to be true.
đ How not to get caught?
âą Check the project and its creators thoroughly.
âą Check the source code of the smart contract (if it is open source).
âą Don't trust quick and easy money.
â Remember: in the world of cryptocurrencies it is important to keep a cool head and carefully check the information. Safety first đ„
