Web3 security is crucial, and Binance's article highlights a sneaky danger: "honeypot" scams. I completely agree with the emphasis on due diligence as the main defense. In the decentralized universe, the responsibility for security falls on us.
Do not be swayed by excitement or dubious endorsements. Verifying the legitimacy of a token and its team is the first vital step. Blockchain explorers like Etherscan and BscScan are your allies to confirm if the contract is verified. If you have technical knowledge, dive into the code looking for traps, such as selling restrictions or exorbitant fees.
The trading history also tells stories. Be wary of the absence of sales, concentration of tokens in a few hands, or sudden liquidity withdrawals. Security tools are smart investments to analyze contracts and identify vulnerabilities before they cause harm. In short, caution and thorough investigation are your best shields against "honeypot" scams in Web3.
