FAPE Honeypot

Reported loss Not disclosed
BNB Chain
Honeypot

What happened

FAPE (FAIRAPE) is a BNB Chain token deployed on 8 April 2021 at 0x047115ed…25c8a0. The first transferFrom call made on the token stores its recipient in a variable called newun, and from then on both transfer and transferFrom revert with "please wait" whenever tokens are sent to that address. When the first such call is the PancakeSwap router adding liquidity, newun becomes the liquidity pair, so buys from the pair still work but every sale into the pair fails.

Only the owner can move newun elsewhere with transfernewun. De.Fi's REKT database lists FAIRAPE as an exit scam/honeypot, stating that holders were restricted from selling their tokens.

How it happened

  1. The constructor credits the full supply of 100,000,000 FAIRAPE (10000000000000000 with 8 decimals) to the deployer, who is also owner. newun starts as the zero address.
  2. On the first transferFrom from a non-zero address while newun == address(0), the contract sets newun = to. Adding liquidity through the PancakeSwap router is a transferFrom(owner, pair, amount), so if that is the first such call, the pair becomes newun.
  3. Every later transferFrom runs require(to != newun, "please wait"), and transfer runs the same check, so neither a router sale nor a direct transfer into the pair can succeed.
  4. Buys are the pair calling transfer to the buyer, whose address is not newun, so purchases keep working.
  5. transfernewun(address _newun) is onlyOwner, so only the owner can point newun at another address and reopen sales to the pair. clearCNDAO() lets the owner withdraw any BNB held by the token contract.

Protocol details

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

Evidence

Same attack technique

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