How to Spot Honeypot Crypto Scams on BSC and ETH Chain?
Honeypot scams on BSC and ETH Chain can be spotted by checking on this tool.
Question:
I bought RGC coin using BNB on PancakeSwap, but I am unable to sell it. I have attached a screenshot of the issue. Please help me resolve it.
Contract address of RGC token: 0x0E710bAe31CA595E783f3406eF1AE84d0068fe0C
Answer:
The token you bought is a scam. Scammers create these tokens to trick people into buying them. They then code the tokens so that no one can sell them. Once larger number of people buy the tokens, the scammers take your money and disappear. This is called Honeypot scam.
Honeypot scammers often target new investors who are not familiar with the cryptocurrency industry. They create websites or social media accounts that look like legitimate cryptocurrency projects.
They then use these websites or accounts to promote their scam and convince you to invest.
Spot Honeypot Crypto Scams on BSC
Here's how you can spot the honeypot crypto scams:
Step 1: Visit Honeypot homepage.
Step 2: To check the results of Ethereum chain tokens, click Ethereum here. When you want to check for tokens on Binance Smart Chain, you can skip this step.
Step 3: Enter the contract address of token in the search field. Click Check for Honeypot.
Step 4: Tokens that aim to scam the community will get following warning.
