TACHYON Honeypot

Reported loss Not disclosed
BNB Chain
Honeypot

What happened

TACHYON (IPX) is a BEP-20 token deployed on BNB Chain on 28 April 2021 at 0x99d84c83…7fe744 by 0x31709080…D2476C, which is still its owner. Its transferFrom records the destination of the first transferFrom call as a blocked address, newun, and afterwards rejects every transfer to that address with "please wait". When the first transferFrom is the router moving tokens into the PancakeSwap pair to add liquidity, the pair becomes the blocked address: buying from the pool still works, but no holder can send tokens back to the pair to sell.

The owner can change the blocked address at any time with transfernewun. De.Fi's REKT database lists TACHYON as an exit scam/honeypot dated 28 April 2021, with no loss figure.

How it happened

  1. The constructor gives the owner the whole supply of 100,000,000 IPX (9 decimals). newun starts as the zero address.
  2. In transferFrom, if(from != address(0) && newun == address(0)) newun = to; saves the destination of the first such call as newun. When liquidity is added through the router, that first call moves tokens into the pair, so the pair becomes newun.
  3. Every later transferFrom runs require(to != newun, "please wait"), and transfer has the same check. A router sale sends tokens to the pair, so it reverts for every holder, including the owner.
  4. Buys still work, because the pair sends tokens out with transfer to the buyer, who is not newun. Liquidity can also still be removed, since that moves IPX out of the pair, not into it.
  5. transfernewun(address) is onlyOwner and can point the block at any address, or reopen selling by moving it away from the pair. The contract has no renounce function, and the deployer is still the owner. A separate clearCNDAO lets the owner withdraw any BNB held by the token contract.

Protocol details

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

Evidence

Same attack technique

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