Ethereum-based Token MASK is a honeypot scam, not a Metamask governance asset
Multiple cryptocurrency enthusiasts are reporting scam token MASK posing as the long-awaited government token from main wallet MetaMask.
Ethereum community attacked by eight-digit scam
Today, December 28, Ether holders started reporting a new “honeypot contact,” that is, a token that can only buy but not sell. The scam masquerades as MetaMask’s government token, Mask, which has yet to be issued.
Really depressing. Dude tries to mimic a coin 7 times by raising the stakes each time. It fails every time. You get all of your net worth on the last try. Coin was a fake meta-mask token. Exploitation ofxtools. Invincible. What you are seeing here is a star rising pic.twitter.com/oDQXIVIuST
– Jeremy (@lindyape) December 27, 2021
Twitter user @lindyape shares a screenshot of the transaction history of an Ether holder who bought MASK for 22 ETH (almost $ 88,000) and is unable to sell it at any price.
According to Etherscan, the net number of victims of this scam may be close to 400. The token is issued by the suspect “MaskDAO”, whose website was registered yesterday, December 27.
It seems that in the first hours of activity of MASK, some traders were able to sell. Although this token has a 1/100 reputation on the DexTools app, some NFT influencers are still using it aggressively.
This is how scams get verification credentials
Cryptocurrency enthusiast @cobynft explained how issuers of the MASK token managed to get the verification badge on the popular DeFi DexTool app.
How did someone make a fake? $ MASK token and scam hundreds of ETH by exploiting DexTools?
A thread 🧵 pic.twitter.com/pUb9MRwBlT
– coby.eth (@cobynft) December 27, 2021
The hackers injected malicious code into the description of the token that the website ran, resulting in a highly anticipated blue “Verified” badge displayed next to the WETH / MASK pair.
Mr. @cobynft revealed that the put option was locked after $ 1 million in liquidity was injected into MASK. Right now, the token is labeled as “honeypot” by automatic analytical systems because its code includes the line that does not allow it to be sold.