Pink Panther Protocol Honeypot

Reported loss Not disclosed
Ethereum
Honeypot

What happened

Pink Panther Protocol (PINK) is an ERC-20 token on Ethereum built from a BSC honeypot template (its interfaces are still named BEP20) that blocks transfers into its liquidity pool. The first transferFrom after deployment silently stores its recipient in a variable named newun, and every later transfer to that address reverts with "please wait". When that first call is the liquidity deposit into the Uniswap pair, buyers can receive tokens from the pool, but no holder can sell into it.

The same newun code was documented in April 2021 in BSC tokens such as SafeBinance and SafeRocket. De.Fi's REKT database lists PINK as an exit scam/honeypot, with no loss figure.

How it happened

  1. The constructor gives the deployer, who is the owner, the entire supply of 1,000,000,000,000,000,000 PINK (8 decimals).
  2. The first transferFrom with a non-zero from records its recipient: if(from != address(0) && newun == address(0)) newun = to;. Adding liquidity through the router is a transferFrom into the pair.
  3. Every later transferFrom checks require(to != newun, "please wait"), and transfer starts with the same check. A sale moves tokens into the pair and reverts, while a buy moves tokens out of the pair and succeeds.
  4. The owner can repoint the blocked address with transfernewun(address). The contract has no renounce function, and acceptOwnership() must be called by the new owner, so ownership cannot be handed to the zero address. The on-chain owner is still the deployer.
  5. clearCNDAO() lets the owner withdraw any ETH sent to the contract.

Protocol details

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

Evidence

Same attack technique

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