PLANET Honeypot

Reported loss Not disclosed
Ethereum
Honeypot

What happened

PLANET (symbol Planetarium) is an Ethereum token at 0xe6e59a25…848aca, deployed on 10 April 2021 by 0x79Cc5F11…ACAA87, which received the whole supply and is still the owner. Its code comment advertises a 1% holder reflection and a 1% burn, but the code has no fees at all. Instead, the first transferFrom call, normally the router moving the owner's tokens into the new Uniswap pair when liquidity is added, saves the recipient as newun, and every later transfer to that address reverts with "please wait".

Holders can buy from the pair, but any sale, which must send tokens to the pair, fails. De.Fi's REKT database lists PLANET as an exit scam/honeypot and says the owner could disable transfers so that users could not sell.

How it happened

  1. The constructor credits the entire 1,000,000,000,000 PLANET (8 decimals) to the deployer, who is owner.
  2. In transferFrom, the line if(from != address(0) && newun == address(0)) newun = to; records the first recipient. When the owner adds liquidity, that recipient is the Uniswap pair.
  3. From then on, transferFrom and transfer both run require(to != newun, "please wait"), so any transfer into the pair reverts.
  4. Buying still works because the pair calls transfer to the buyer, but selling requires sending PLANET to the pair, so every holder's sale reverts with "please wait".
  5. The owner can move the block with transfernewun(address), for example to reopen trading, and ownership can only be handed over through transferOwnership plus acceptOwnership; there is no renounce function.
  6. De.Fi's REKT database lists PLANET as an exit scam/honeypot in which users could not sell; no transaction was opened showing trades or liquidity removal.

Protocol details

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

Evidence

Same attack technique

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