Beware of honeypot crypto scams that lock up funds permanently, evolving quickly to target investors.

From Cointelegraph

June 23, 2025 10:11 AM:

Honeypot scams deceive investors with fake liquidity, price movement, and hype, making it impossible to exit and locking funds permanently. Scammers now use tampered cold wallets sold on platforms like TikTok, preloaded with private keys to steal funds instantly. Variants like high sell tax honeypots and “honeypot-as-a-service” kits make it easier for scammers to target users. Test-sell before committing funds, scan smart contracts, avoid hype, and buy wallets from official sources to avoid traps. In DeFi, scams like honeypots evolve quickly, posing a threat to all investors.
A honeypot crypto scam is a smart contract trap that lets users buy tokens but blocks them from selling, locking up their funds. Scammers exploit Solidity in Ethereum to embed malicious logic, blocking sales, imposing high fees, using hidden blacklists, and fake liquidity pools. Review smart contract code carefully to avoid falling victim to honeypot scams.

Read more at Cointelegraph: The Crypto Trap That Locks Your Funds Forever