What is a Honeypot?

Cyberscope’s data shows that roughly $1.4 million in crypto assets on average are being trapped in liquidity every month.

A honeypot practically means that the smart contract will allow users to buy, but never to sell back. Honeypots trap investor funds and create fake hype.
This malicious behaviour will trap the investor funds into the liquidity. It will also work as a fake hype indicator, creating the feeling that the project is about to take off as nobody can sell.

The best way to protect against a honeypot is to ask for a smart contract audit and read it carefully looking for any critical findings.

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