How to know if a token is scam or an honeypot

[Iadegbola34]

If you have been in this crypto space for as long as I've been or longer than that, you must have come in contact with a few scam tokens. These tokens are created with malicious codes and are mostly gotten freely without ever having to do anything at all.
They're mostly sent to active wallets addresses.

To put some life into this, a friend of mine just lost all his funds in trust wallet from trying to swap one of these tokens. Of course, the aim of these tokens is to get access to wallets of greedy people who're greedy enough to get money from anything and anywhere.
 
These are some of the token
1. https://bscscan.com/token/0x64f2c2aa04755507a2ecd22ceb8c475b7a750a3a
2. https://bscscan.com/token/0x4A5FaD6631FD3DF66f23519608185Cb96e9a687d

I've recently just come across a website that verifies token contract and confirm if the token is a honeypot or not. All you need do is paste the contract address on the site. https://rugdoc.io/honeypot/
Tip: It works for all 0x chain
Let me know if you find this helpful.

[makishart]

Yeah this already discussed before and so many dusting tokens are created by scammers but mostly on BSC,that's why i was moving tot he another blockchain with less dusting attack. The cheap fees and popularity of BSC has been making this blockchain has so many scammers that were actively creating the dusting token anytime. My wallets are being filled with so many garbage tokens that i know that was a dusting tokens that can steal my money.
Just wanna know when those shitty scammers will stop to create more and more dusting tokens. These dusting tokens are very annoying. This makes me can't sleep for well.

[pakhitheboss]

Such scam tokens can be found on Ethereum and Tron Blockchain too. BSC is becoming heaven for scammers because of its popularity and less fees. I found a website that list such tokens with their name, symbol and date of deployment you can check it here. Most of these tokens are copy of an original token. Scammers Dona random airdrop of these tokens and some users do fall for them.

[jeha2015]

if we found any unknown token or dusting, better to move our assets into new wallet and back it with several layer security so no one could access our wallet and steal our assets. alot scam token recently attact wallet, especially from whose joining at airdrop program. usually atleast 3 scam token will arrive to our wallet. in crypto market we should give attention to unknown link , and unknown token in our wallet. alot new hacking methode occur now and some of us be their victim.

[robattfield]

Not only BSC, but major platforms like ERC20, Matic, Fantom, AVA,... all have these tokens. Some of the new users who are new to it mistakenly think it's valuable stuff and give it pass access. Be more alert and honest with yourself when self-constructed money goes into your wallet. It is not a good thing. Always check the contract before proceeding to grant individual rights to them.

[capedbaldy]

These are some of the token
1. https://bscscan.com/token/0x64f2c2aa04755507a2ecd22ceb8c475b7a750a3a
2. https://bscscan.com/token/0x4A5FaD6631FD3DF66f23519608185Cb96e9a687d

It looks like it's a shittoken that is sent automatically after you have 1 transaction in the address. All tokens are worthless and hope you don't do any activity for them, as it will result in fatal vulnerability to hack your wallet.

Shittoken is easy to know because tokens are sent automatically, even without the need for a honeypot, but if you use a honeypot on tokens that have been traded on dex.

[TastyChillySauce00]

In this case is rugdoc is helping a lot. People should aware about that. In my opinion that any spam tokens must be avoided and to be honest if this can be done easily through never touch any scam tokens that unfamiliar that came to our wallet. I have been experiencing this so many times when people are trying to touch it but i was avoiding to touch it and then we know that's a scam.
These days scammers have more and more ways to scam or launch its attack to the ordinary people to steal the asset.

[el kaka22]

Basically do not invest into anything that "could" be a scam, that is as simple as that. I mean why would you invest into something that is so new, and some of them are even obvious scams that even stay for too long.

Like Shiba IS a scam, creators did it to make money and they did earn so much money and yes they are "working on it" right now but if you gave me tens of millions of dollars then I would work on it as well, that is not a point. There are stuff like "will smith inu" that came out after the slap, and some people actually did invest into it. It doesn't have to be this obvious, but if it is new, and you are unsure, then just simply do not invest.

[dansus021]

BSC become popular for dusting attack and scam token i think i have more than 50+ of token in my wallet they keep scaning new address especially with deep pocket

how to avoid is actually simple - never approve the coin that u dont know about if u still make sure usually scam token have a lot of hodler and source code is not available

[KingsDen]

Such scam tokens can be found on Ethereum and Tron Blockchain too. BSC is becoming heaven for scammers because of its popularity and less fees. I found a website that list such tokens with their name, symbol and date of deployment you can check it here. Most of these tokens are copy of an original token. Scammers Dona random airdrop of these tokens and some users do fall for them.

That is one thing to look out to when choosing a project. Most of the scam projects don have time to build a project from scratch, provide the road map and present a working whitepaper. Once it is scam, they can go on and make copies of existing projects instead of wasting time and resources creating a scam project from scratch.
This is also a red flag for me, any project that is not well organised, even the website build is liable to be a scam project.

For the scam, you can't just see a shitcoin randomly in your wallet and want to swap it. It's a kind of greed and anything could happen.

[Little_Sister]

I've recently just come across a website that verifies token contract and confirm if the token is a honeypot or not. All you need do is paste the contract address on the site. https://rugdoc.io/honeypot/
Tip: It works for all 0x chain
Let me know if you find this helpful.

Honeypot help is very helpful to briefly review activities on smartcontracts but we need to know that it is only an algorithm to identify for some cases, we have to manually analyze smartcontracts for more detailed information.

[Adbitco]

Its common on BSC and Trc20, i have received few of those token in every transaction executed on BSC or TRC20. Most at time being careful will save us from being scammed and though it depends on the user that wants gain without working for it. I will run the Honeypot to detects those scam token.
Thank you for sharing.

[StormHawk]

These scam tokens are popping up every day on the BSC chain, its now less on ETH erc20 due to high gas fees I guess but what I haven't figured out is how these scammers are getting people's wallet addresses to send those fake tokens to.

[uelque]

I agree to some posts that most scams are from bsc network maybe due to the fact it's very easy to create a scam contracts in binance smart chain and at a very low cost I believe. And yes there are sites that can detect whether the contract is a honeypot and etc. but they are not 100% effective. There are still some other possible ways to make a scam project even though the contract looks clean. I have already seen some projects where a certain coin or token checker platform detected it as 100% safe, passing everything in the platform yet they ended up as a rug. So don't fully trust all the smart contracts checker online and just conduct your own research for you to avoid being scammed. It is the only thing we can do to possibly avoid it.

[$anounimus$]

If I'm not mistaken, the dusting attack pattern is to find out your wallet's activity, usually, the ones who get dusting attacks are due to buying strange shitcoin. The solution, if you get a dusting attack, don't do anything about it, don't do anything about it, don't sell it or transfer it. Regarding checking sc tokens using the application as you suggested, I think it's good too, but normally what campaigns we participate in, we usually remember that there are others who enter, which is not a priority, it's best to just leave it alone.

[jeha2015]

If I'm not mistaken, the dusting attack pattern is to find out your wallet's activity, usually, the ones who get dusting attacks are due to buying strange shitcoin. The solution, if you get a dusting attack, don't do anything about it, don't do anything about it, don't sell it or transfer it. Regarding checking sc tokens using the application as you suggested, I think it's good too, but normally what campaigns we participate in, we usually remember that there are others who enter, which is not a priority, it's best to just leave it alone.

let this dusting token in our wallet as garbage, move our assets into safe wallet could be prevention action to avoid worst scenario attack us. dusting token could come from airdrop program which is usually wallet holder dont care about their assets and recognized it as airdrop token too.

These scam tokens are popping up every day on the BSC chain, its now less on ETH erc20 due to high gas fees I guess but what I haven't figured out is how these scammers are getting people's wallet addresses to send those fake tokens to.

they will not send scam token to ethereum wallet, its fee will take alot and maybe for them its speculation only due some eth wallet didnt filled worthed assets.

[Faisal2202]

Well these are shitcoins we have to ignore them, greed is course so we should avoid if we don't want to fell a prey to these fraudulent shitcoins who give your wallet access to intruders, The link you provided is really helpful, i will try it and check it's accuracy.
The link's you provided is mainly for these shitcoin confirmations, but what if these checker also a part of their scam campaign, therefore we can not put whole trust on these checkers, we have to Do our own research.