BM
@ms-mfonn
Farcaster keep showing me coins to buy I’ll keep clicking 😭
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Luke
@lk
FYI on this one though! https://warpcast.com/kyle/0x8c42d5f3
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BM
@ms-mfonn
Thanks you so much for this Buh I have an issue selling it.. don’t know why
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Luke
@lk
Unfortunately bad actors are able to create contracts that allow everyone to buy, but not sell. They then pull liquidity, taking all of the money. This is typically referred to as a honeypot. I don’t know a single person in crypto who hasn’t bought one before. I’m sorry to be the one telling you but the above coin was one :/
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BM
@ms-mfonn
Oh no 😔 Well I get to learn that such happens. Anyways how do I identify coins like this?
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Luke
@lk
You can identify one in a few ways. MOST tokens are not honeypots, but if you sense something off, it never hurts to check. 1.) https://honeypot.is/base would have worked for this token. Just copy the contract address into the box and it should tell you (though for this contract, it seems to be failing because the contract has been changed I believe?) 2.) Uniswap will tell you if you add the token into the search box on the swap page. 3.) Weird price movement - more subjective (usually only goes up, with a few periodic red candles) 4.) Due diligence through social media - search the ticker on farcaster and twitter to see if there’s anyone talking about it Maybe others have other methods, but if any of these seem off, I would be skeptical
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BM
@ms-mfonn
Thank you very much ..this will do!
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Luke
@lk
Good luck! You’re doing great :) If anything is needed, there are many people here happy to help out.
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