Honey for investors or a trap: how to protect a Web3 wallet
The world of cryptocurrencies is both a field for innovation and an environment where it is easy to become a victim. Honeypot projects are not an exception, but a part of this reality
Kyrylo Khomiakov
Regional Head of Binance for Central and Eastern Europe, Central Asia, and Africa
The recent story of CBEX, a platform that promised 100% profit in 35 days with no risks, was another reminder that in the Web3 world, overly attractive offers often end in failure. Traders invested in the token, not realizing that the way out of the game would be closed. The funds were frozen, the website disappeared, and there was zero support. This case perfectly illustrates a typical honeypot scam – a sophisticated trap based on a smart contract.
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