Scam Possibility

On the other hand, this potential also attracts many scammers who consistently produce fraudulent smart contracts in order to steal people's hard-earned money. The most common way for scammers to steal investors’ money is to disable trading. They literally click a button and disable the trading so that no one can sell on the market. The second most common way that a scammer applies is to remove the liquidity from decentralized exchanges (DEX). Once the liquidity is removed from the DEX, it is not possible to sell the token in the DEX since there is no liquidity exists in the market. The third most common way for scammers is to mint limitless amounts of tokens that they can sell on the market so that they can drain the whole liquidity. Is that all? The answer is "No". Scammers are trying to find new ways every day to steal peoples’ money. In addition to disabling trading, removing liquidity, and minting limitless amounts of tokens, they can put high taxes for buying and selling so that no one can sell on the market with a reasonable slippage. They can also limit the maximum transaction amount to "zero" tokens so that investors can not sell their tokens on the market. Lately, our team also noticed that some of the scammers have coded a smart contract that, once an investor approves the contract, the smart contract automatically transfers the whole token amount into another wallet. So, scammers always find new ways to scam people in this ecosystem.