Unit 3 · Level 2 · Copy-danger
Honeypots & bait wallets
Some scams are aimed precisely at people who do what you're learning: watch wallets and follow them. A honeypot token lets you buy but its code silently blocks you from selling. A bait wallet is fed a fake 'genius' track record (sometimes via wash trades) so copy-bots follow it straight into a trap. If enough people watch the smart money, faking smart money becomes a business.
Free to play. No ads, no token, no account needed to start.
What you get asked
What makes a token a 'honeypot'?
The trap is in the contract: transfers out are blocked for everyone but the scammer, or a 99% 'sell tax' devours the exit. The chart rises because literally nobody can sell.
Why does a honeypot's price chart often look fantastic?
A market where selling is impossible is a market that only goes up, until you try to leave. A beautiful chart with zero successful sells is the tell.
Match each trap to how it catches its victim
Different traps, one principle: each one manufactures exactly the on-chain evidence a naive watcher screens for.
Before buying any small token, a careful analyst checks whether other wallets have successfully managed to ___ it recently.
Successful sells by ordinary wallets are the one thing a honeypot cannot fake. No exits in the history? Assume there's no exit for you either.
A wallet with a flawless 30-trade win streak just bought an unknown token. Given this lesson, what's the paranoid-but-wise thought?
Wash trades against yourself can fabricate any track record for the cost of gas. When a signal is widely followed, faking that signal becomes profitable, so assume someone does. 🐜
The rest of this unit
Why blindly following 'smart money' is a trap, and what the signals are really for.