Solana coin Bonk Killer launched April 29th, accumulating around $4.6million in trading volume within the past 24hours. The token is a honeypot scheme, however, because investors are unable to sell the token after they purchase it.
According to the cryptocurrency analytics platform, more than 90% of tokens are owned by creators. Birdeye. Furthermore, it has a value of more than $100 trillion. Solana Network, a news aggregator Solana FloorAfter all of the investment, the developer took steps to prevent token sales by freezing the accounts of token holders. BONKKILLER also created by its creator pulled Birdeye data indicates that $1.62million in victim funds were spent across 11 transactions.
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Market experts warned that traders were continuing to invest in the honey pot despite their warnings. This only hurt their wallets. Honeypots are a form of fraud that entices investors to invest with high profit potential, but stops them from selling. Bonk Killer did just that. There are also many other meme coin rug-pull initiatives. There are many feel-good tales about how investors turned small investments into millionaires, but there are also stories of investors who lost their money to BONKKILLER.
To prevent being scammed, these tools should be regularly used to identify potential honeypots. They should be used often to avoid being scammed. work By performing real-time smart contract and token analysis.
Be cautious before you invest in Solana memecoins. Success of such coins as BONK is promising. They also provide hope for scammers looking to make a quick profit at the expense innocent investors.
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Source: watcher.guru