Pump-and-Dump meets Honeypot Tokens: Detection and Analysis of Telegram Bait-and-Trap Schemes
In briefPump-and-Dump Meets Honeypot Tokens: Detecting Telegram Bait-and-Trap Scams
SummaryThe paper monitors 83 Telegram channels used to coordinate Pump-and-Dump campaigns, collecting 3,677 events across BNB Smart Chain and Ethereum. It finds these schemes use honeypot tokens whose smart contracts let buyers purchase but not sell, a mechanism the authors call Bait-and-Trap. The authors also present a transaction-simulation tool that detects honeypot tokens before purchase.