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Honeypot plague and the necessity of devs' action.

Binance

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I haven't run any precise statistical analytics yet, but at first glance, compared to what I've seen months ago, the growing number of honeypot contracts is alarming, every third or fourth contract scanned on those "check-if -it's-a-scam" websites, is unsellable.

Meanwhile, devs (as an unfairly generalized group) either keep silent about the topic or mentally masturbate over what THEY call honeypot contracts: some innocent guy storing 10 ETH on a bait contract to abuse the excessive free time of devs. It's an ego trip to play such games when around you are 'retailers' who have trouble getting the information you got - and are getting lied to and stolen from 24/7/365.

So what's the real issue?

Nets of uncountable wallets and teams of professionals or just lowlife scum, MASS PRODUCING honeypots, cloning projects into oblivion, 24/7/365, STEALING money from unsuspecting investors or just bots who don't audit... there are NO RESULTS for the common man on the internet about that topic. Not nearly enough.

I have to run statistics on how that compares between let's say UNI and PCS, so please - treat this post more as an aspiring-to-be-technical but more of an community effort post, rather than an actual in-depth analysis.

This is the single most important thing a retail investor should do before investing in a project:

  1. Check if she can sell
  2. If she can sell, check if in the future this might change.

Second step is really where the common man NEEDS devs' help (sneak lvl 999 here)

When a CEX's primarily goal is to drain an account in less than a few months from 100-0% and incentivize as much frequency of trading as possible to drain fees like mad - really, what else can be the case here, in terms of who runs this scam circus? Who has the means of doing it + no moral ground to have any inhibitions to do that?

The DEGREE TO WHICH IMPORTANT KNOWLEDGE IS WITHDRAWN IN THE WHOLE CRYPTO COMMUNITY IS FLABBERGASTING - the single most severe issue, leading to scams like Squid Game Token - is almost NOT AT ALL COVERED in the community - nobody talks about it! TRAD FINANCE MEDIA HAS A PROBLEM PINNING IT DOWN - they clone article from article, each one with even less understanding, because it all originates from a journalist boomer, who has zero clue about the scam, and talks out of their asses, multiplying thoughts that are really aggressive financial advice coupled with fearmongering .

Some guy on medium wrote an insanely long article, just because being clearly so triggered by the shitstream media's non-existent understanding of what happened with SGT and still talking out of their asses.

End all: Everybody is entitled to NOT SHARE, but it would really be for the greater good, if the community, as a whole, started a major witchhunt against the honeypot and rugpull scammers.

PS: Why am I writing this instead of doing something about it? I'm still learning. And seeing this disgrace go on and on and on for endlessly evergrowing in size - whatever I plan to do with my knowledge eventually - a large portion of it I indend to aim at crippling those nets of scammers one way or another.

submitted by /u/maskci
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