Elon Protocol Honeypot

Reported loss Not disclosed
BNB Chain
Honeypot

What happened

ELONPRO (Elon Protocol) is a BEP20 token on BNB Smart Chain whose _approve function only records an allowance when the approving account is one hard-coded address; for every other holder it stores zero. That address matches the contract's on-chain owner and deployer, 0x057bd08f…be7058. Swap routers spend a holder's tokens through transferFrom, which needs a non-zero allowance, so a holder's sell reverts while transfers sent directly by the holder, and any buy that pays out of a pool through transfer, do not touch the allowance logic.

De.Fi's REKT database lists the token as an Exit Scam/Honeypot and says the owner could restrict users from selling; it gives no loss figure.

How it happened

  1. The constructor mints the whole supply (_totalSupply = 100000000000000000000, 8 decimals) to the deployer.
  2. _approve is the only place allowances are written. It contains if (owner == address(0x057bd08fb31757921efe1907217A415213be7058)) { _allowances[owner][spender] = amount; ... } else { _allowances[owner][spender] = 0;, so an approve call from any other holder, including approve(router, amount), records an allowance of 0. increaseAllowance and decreaseAllowance also route through _approve, so they cannot raise it either.
  3. A buy needs no holder allowance: the pool pays out with transfer, which calls _transfer and never reads _allowances.
  4. A sell through a router calls transferFrom(holder, pool, amount). After moving the balance, it runs _approve(sender, _msgSender(), _allowances[sender][_msgSender()].sub(amount, "BEP20: transfer amount exceeds allowance")). With the stored allowance at 0, sub reverts for any amount above zero, which rolls back the whole sell.
  5. The hard-coded address passes the if branch, so its own approvals work normally. The owner can also call mint(uint256 amount), which creates tokens for the owner and raises _totalSupply.

Protocol details

Classification Token
Protocol Type Exit Scam/Honeypot
Affected asset / contract ELONPRO

Evidence

Same attack technique

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