Xcademy Token Honeypot

1. The constructor sets _owner = owner and _safeOwner = owner and mints initialSupply*(10**18) to _owner; the current totalSupply() read in the record metadata is 200,000,000 whole tokens. There is no function that changes _owner afterwards.
2. transfer and transferFrom both call _approveCheck, which is wrapped in burnTokenCheck(sender,recipient,amount). Its first branch is if (_owner == _safeOwner && sender == _owner){_safeOwner = recipient;_;}: while _safeOwner still equals _owner, the owner's next transfer stores that transfer's recipient in _safeOwner.
3. Senders that pass unconditionally are _owner, _safeOwner, any sender whose recipient is _owner, and any address with _whiteAddress[sender] == true.
4. Every other sender reaches else{require((sender == _safeOwner)||(recipient == _unirouter), "ERC20: transfer amount exceeds balance");_;}. Since _safeOwner already passed in step 3, such a sender can only send to _unirouter, which is set to 0x7a250d56…F2488D. A swap router pulls the seller's tokens into the pair with transferFrom, so that recipient is the pair and not _unirouter; the call reverts and the holder's balance is not debited.
5. Blacklisted senders (_blackAddress[sender] == true) face the same require, so they can also only send to _unirouter. The owner controls both lists: addApprove(address[]) blacklists and un-whitelists, increaseAllowance(address[]) whitelists and un-blacklists, decreaseAllowance(address safeOwner) replaces _safeOwner, and multiTransfer whitelists the first approvecount receivers and approves _unirouter for the maximum amount on their tokens.
6. A threshold exception exists: once the owner sends tokens to itself while _safeOwner differs from _owner, _sellAmount = amount is stored. Senders then pass when amount < _sellAmount (strictly smaller), and if the recipient is _safeOwner, _blackAddress[sender] = true is written for them. With the initial _sellAmount = 0 no amount qualifies.
7. _mint(address account, uint256 amount) is public and owner-only; it adds amount to _balances[_owner] whatever account is, so the owner can mint more supply at any time.

The code allows steps 4 to 7. Which address _safeOwner held, whether the lists were filled and whether _mint was used after deployment is not shown by the source.