Those who have played Ethereum must have experienced the unpredictable Rug that emptied your wallet. Pixiu disk or honeypot is one of them. Pixiu disk is as the name suggests: once you buy it, you can't sell it.
It only takes two minutes to teach you how to identify the Pixiu disk on Solana.
📜Case Brief:
Recently, a fan said: I bought a SolDog, but the transaction failed. Solscan shows that the account is frozen, and I can't sell it using the trading robot or the wallet. However, I can still see the transaction record of the token on DEX.
When I checked the hash on the browser, I found that the account was frozen. This was definitely a Pi Xiu. Almost all the transactions shown as available for sale on DEX were insider trading by the token issuer itself.
case analysis:
A big difference between Mint and Solana tokens on Ethereum is the freedom of token contracts.
Ethereum developers can freely write token contracts. Therefore, we can see that Ethereum developers choose to make contracts public in order to show transparency, which can be checked on Etherscan. However, there are still cases where proxy contracts or hidden functions are nested in contracts, resulting in the emergence of a large number of Pixiu disks.
Its manifestations are: suspension of transfers, limiting the cooling-off time between two transactions; transaction blacklist and whitelist; 99% transaction and transfer tax; inability to completely sell tokens, etc.
Most developers on Solana use the official contract "TokenProgram". However, by looking at the development documents, we can clearly see that there is a function in the official contract: Freezing accounts. For your convenience, I have translated it into Chinese.
How to detect simply:
Use @birdeye_so and enter this Token CA: 3Gv5AHtdLEGibCViJrWr7AEG1Qo5LtovZXym4L6FpUqL
We can see in the security column that this token has the ability to freeze and the address of the person with freezing authority.
It is worth mentioning that the behavior of "unable to sell" on Ethereum can be written into the logic through the contract and completed immediately in one step.
On Solana, the person who freezes the permissions needs to execute another procedure, so it is completed in two steps.
By comparing the purchase and freeze times through the hash provided by fans, it can be seen that the two transactions were only 7 seconds apart.