GUCCI Honeypot

Reported loss Not disclosed
BNB Chain
Honeypot

What happened

GUCCI is a BEP-20 token on BNB Chain whose transfer functions refuse any transfer into one stored address, newun. The first transferFrom call fills newun with its recipient, and for a new token that call is normally the router moving tokens into the PancakeSwap pair when liquidity is added. From then on, buying works because the pair sends tokens out with transfer, but selling means sending GUCCI to the pair, and both transfer and transferFrom revert with "please wait".

The owner, an address hard-coded in the constructor that also received the whole 6,000,000,000 GUCCI supply, can re-point newun at any time with transfernewun. De.Fi's REKT database lists GUCCI as a honeypot, and an April 2021 write-up describes the same code in other BNB Chain tokens.

How it happened

  1. The constructor sets owner to the hard-coded address 0xcE40278D…518D75 and credits it with the full 6,000,000,000 GUCCI supply.
  2. newun starts as the zero address. The first transferFrom from a non-zero sender stores its recipient in newun without any check, so if that call is the liquidity add, the pair becomes the blocked address.
  3. Every later transfer or transferFrom whose recipient equals newun reverts with "please wait". Buyers receive tokens from the pair, but a sell through the router, which calls transferFrom into the pair, fails.
  4. The owner can call transfernewun to set newun to any address, which can lift the block (for example to let a chosen wallet sell) or move it elsewhere. The contract has no owner exemption from the block, so the owner would also need to change newun before selling to the pair.

Protocol details

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

Evidence

Same attack technique

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