GEMROCKET Honeypot

Reported loss Not disclosed
BNB Chain
Honeypot

What happened

GEMROCKET is a BEP-20 token on BNB Chain built on a honeypot template that blocks transfers into its liquidity pool. The first transferFrom call after deployment silently stores its recipient as nxOwner. When that call is the liquidity deposit into the PancakeSwap pair, the pair becomes nxOwner, and while the owner-controlled tracing flag is on, every later transfer to that address reverts.

Buyers can receive tokens from the pool, but no holder can sell into it. The contract also has an owner-only function that credits the caller with unlimited tokens, and a fake renounceOwnership that anyone can call without changing the owner. De.Fi's REKT database lists GEMROCKET as an exit scam/honeypot, with no loss figure.

How it happened

  1. The constructor sets owner = msg.sender, gives it all 50,000 tokens and sets currentOwner = address(0), so the public currentOwner getter looks renounced while the real owner variable has no getter.
  2. The first transferFrom with a non-zero from records its recipient: if(from != address(0) && nxOwner == address(0)) nxOwner = to;. Adding liquidity through the router is a transferFrom into the pair.
  3. While tracing is true, transfer reverts on require(to != nxOwner, "Handling Request") and transferFrom reverts on require(to != nxOwner, "Order ContextHandler"). Any sale that sends tokens to that address fails, while buys, which send tokens out of the pair, still work.
  4. The owner can turn the block off and on with setTracing(bool), and nxOwner also passes the onlyOwner check (require(msg.sender == owner || msg.sender == nxOwner)).
  5. emitTransfer(uint256) is onlyOwner and runs balances[msg.sender] = balances[msg.sender] + (_input) without changing _totalSupply, so the owner can credit itself unlimited tokens that the reported supply does not show. renounceOwnership(address) has no access check and only writes the unused currentOwner, so ownership can never be given up.

Protocol details

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

Evidence

Same attack technique

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