{"id":15714,"date":"2021-12-28T10:45:51","date_gmt":"2021-12-28T09:45:51","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=15714"},"modified":"2021-12-28T10:45:55","modified_gmt":"2021-12-28T09:45:55","slug":"snowflake-floki-ends-up-being-a-honeypot-scam","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/snowflake-floki-ends-up-being-a-honeypot-scam\/","title":{"rendered":"Snowflake Floki ends up being a honeypot scam"},"content":{"rendered":"\n
Snowflake Floki, a knock-off of the\u00a0Floki Inu\u00a0meme coin, ends up being a honeypot scam<\/a> that typically prevents buyers from selling tokens.<\/h5>\n\n\n\n
\"Snowflake
Snowflake Floki ends up being a honeypot scam<\/figcaption><\/figure>\n\n\n\n

Snowflake Floki is a honeypot scam <\/h2>\n\n\n\n

According to blockchain security firm PeckShield, Snowflake Floki, a rip-off of the Floki Inu meme currency\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, is a honeypot scam.<\/p>\n\n\n\n

#SCAM<\/use><\/svg><\/span><\/a>\u00a0PeckShield has detected that\u00a0@snowflakefloki<\/use><\/svg><\/span><\/a>\u00a0is a\u00a0#honeypot<\/use><\/svg><\/span><\/a>! Sell is disabled. People are constantly being trapped into buying. Stay *AWAY* from it!https:\/\/t.co\/6sd6K4hm2x<\/use><\/svg><\/span><\/a>\u2014 PeckShieldAlert (@PeckShieldAlert)\u00a0December 28, 2021<\/use><\/svg><\/span><\/a><\/p><\/blockquote>\n\n\n\n

What is a honeypot scam?<\/h2>\n\n\n\n

A honeypot hoax, as the name implies, lures users into buying tokens while preventing them from selling them. Because all withdrawals are disconnected, the money of the buyers is basically stuck in the contract. Scammers<\/a> usually ban all other wallets save their own.<\/p>\n\n\n\n

This kind of con isn't new. Honeypots have been a problem for Ethereum users<\/use><\/svg><\/span><\/a> for years. Because producing tokens on the Binance Smart Chain<\/a> is substantially cheaper, such scams have become commonplace on the popular smart contract blockchain.<\/p>\n\n\n\n

On Monday, Snowflake Floki debuted<\/use><\/svg><\/span><\/a> on PancakeSwap, a decentralized platform powered by the Binance Smart Chain, with some fans recognizing the red flag right away.<\/p>\n\n\n\n

New way to spot honeypots <\/h2>\n\n\n\n

There's now a simple way to recognize honeypots. However, it's not foolproof. A honeypot detector<\/use><\/svg><\/span><\/a> replicates a purchase and sells transaction in order to verify whether or not a cryptocurrency project is a hoax.<\/p>\n\n\n\n

In late October, a token inspired by Netflix's blockbuster survival drama series Squid Game made news when its price rose by a stunning 40,000 percent in a matter of days. <\/p>\n\n\n\n

However, there was a catch: due to an in-built “anti-dump feature” that played a significant part in raising the token price, buyers couldn't sell it. The token, as expected, turned out to be a Ponzi scheme that duped customers of millions of dollars.<\/p>\n\n\n\n

Many shady characters are also attempting to profit from respectable meme currencies like Floki Inu and Shiba Inu.<\/p>\n","protected":false},"excerpt":{"rendered":"

Snowflake Floki, a knock-off of the\u00a0Floki Inu\u00a0meme coin, ends up being a honeypot scam that typically prevents buyers from selling tokens. Snowflake Floki is a honeypot scam According to blockchain security firm PeckShield, Snowflake Floki, a rip-off of the Floki Inu meme currency , is a honeypot scam. #SCAM\u00a0PeckShield has detected that\u00a0@snowflakefloki\u00a0is a\u00a0#honeypot! Sell is […]<\/p>\n","protected":false},"author":29,"featured_media":15720,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[6222,6220],"class_list":["post-15714","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-cryptocurrency-scam","tag-floki-inu"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/12\/Snowflake-Floki-ends-up-being-a-honeypot-scam.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/15714","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=15714"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/15714\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/15720"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=15714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=15714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=15714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}