The initial post was rapidly amended following ZachXBT’s discovery.
Dechat, an open-source Web3 communication protocol for decentralized user interactions, has erroneously linked to a honeypot PancakeSwap pool in its official token launch announcement on Feb. 26.
“You clowns literally linked a honeypot for your own token launch,” wrote pseudonymous on-chain researcher ZachXBT, in a Feb. 26 X post. A honeypot crypto scam refers to a malicious smart contract with hidden traps, that aims to attract user investments, before stealing the funds.
Honeypot scams are a growing concern due to their rapid deployment. The creation of a new honeypot contract by a single malicious actor can take as little as 30 minutes, according to blockchain security firm CertiK.
