Seed Phrase Honeypot Scam Explained ๐
This scam targets people who think they just got lucky โ but ends with them getting robbed.
๐ฎ It starts with a public seed phrase shared in a Telegram group or random tweet. You see a screenshot with a wallet backup phrase and an attached token balance worth thousands of dollars. It looks like someone leaked their wallet by mistake. Some users canโt resist the temptation and decide to โrescueโ the funds.
๐ They import the wallet into MetaMask or another app, see the tokens, and try to send them to their own wallet. But the transaction doesnโt go through โ thereโs no ETH to pay for gas.
So they send a few dollars' worth of ETH to the wallet to cover the fee. Thatโs when the scam is triggered.
Thereโs a bot watching this wallet 24/7. The moment gas arrives, it uses that ETH to front-run the user and drains the wallet instantly ๐ค
This works because the scammer owns the wallet. The token balance is fake bait, sometimes enhanced with contracts or fake LP tokens that look valuable but canโt be sold. Itโs designed to trap people who think they found free money.
๐ซ Never trust leaked seed phrases. If someone โleakedโ their wallet with thousands of dollars in it, ask yourself: why is it still full? The answer is simple โ itโs a trap, and youโre the mark.
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