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The tweet does not explain what the scam is. It would be useful if you could explain specifically what the scam is and how it operates.
by paranoidrobot 2y ago
The tweet does not explain what the scam is.
It would be useful if you could explain specifically what the scam is and how it operates.
- jebenois 2y agoThis smart contract pretends to be an automated trading bot that exploits market slippage on decentralized exchanges like Uniswap. It promises users easy profits, but in reality, it steals their funds. The contract's code is intentionally confusing, making it look like it finds new liquidity pools and makes profitable trades. Instead, it generates a hidden address belonging to the scammer. When users interact with the start or withdrawal functions, believing they are trading or withdrawing profits, the contract simply transfers all funds to the scammer's address. In short, this fake bot claims to make money through DeFi trading but ends up sending users' funds to the scammer's wallet.
- deleted 2y ago[deleted]
- zahlman 2y agoI know barely anything about crypto and never got involved with it, but I've been getting and reporting these ads. It's obvious to me that they're scams simply because they promise absurdly sized arbitrages. While the value of crypto might be highly volatile and speculative, it beggars belief that any crypto market could have this size and type of inefficiency.
- jebenois 2y agoThank you for the kind feedback. I am not explaining it well and post too quickly because it makes me really sad.