Crypto users have continued to send funds to the apparent honeypot scam, even with many warnings they won’t be able to transfer any of it.
With just over 1,000 holders, an obscure Solana-based memecoin has apparently become the highest market cap asset in the world at $328 trillion. The catch? It’s a honeypot scam and no one can sell.
The honeypot memecoin launched on April 29, with BONKKILLER tallying around $4.6 million in trading volume over the last 24 hours. More than 90% of the tokens are held by the creator, according to cryptocurrency analytics platform Birdeye.
Unfortunately, many investors who bought the memecoin quickly realized that they can't move any of it after the developer put on “freeze authority” — which allows them to prevent tokens from being transferred.
