Honeypot tokens
A honeypot token lets you buy, then blocks you from selling. The contract may restrict who can transfer, disable selling at will, or hold a hidden owner who can freeze the market. Your tokens are visible but trapped.
Warning signs
- The token is not open-source, or the source does not match the deployed code.
- The owner can change balances, pause transfers, or mint arbitrarily.
- Very new liquidity, with no track record.
- Trading is restricted to a small set of addresses.
How to check before buying
Use a token-security scanner that simulates a buy and sell and reports flags such as honeypot, cannot-sell-all, hidden owner, mintable and pausable. Shingan applies this same threat intelligence when it scores the tokens and spenders it sees on your wallets.
If you already hold one
Do not add more liquidity, and do not sign fresh approvals to unknown contracts trying to “unlock” it. Treat the position as lost and secure the rest of your wallet by revoking risky approvals.