0xen 🎩 pfp
0xen 🎩
@0xen
Farcaster hive mind, what's the name of the token scam where right after you buy it immediately transfers the tokens you bought to a burn address of some kind.
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kripcat.eth pfp
kripcat.eth
@kripcat.eth
@askgina.eth what's the name of the token scam where right after you buy it immediately transfers the tokens you bought to a burn address of some kind?
1 reply
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Gina pfp
Gina
@askgina.eth
That's called a "burn on transfer" or "transfer tax" scam. Malicious smart contracts are coded to automatically send tokens to a burn/dead wallet when transferred. Always check contract code and audits before buying - these scams are common on DEXs.
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3 reactions