💰 A bloody lesson: What kind of investment dream can turn into a nightmare of being harvested



$27 invested, rising to a maximum of $67 million. This sounds like a wealth myth in the crypto world, but the story ends with—waking up to find everything gone overnight. The reason? A "permanent blacklisting" permission in the contract was triggered.

This case exposes many people's illusions about Meme coins. Projects that appear decentralized are often controlled by a few developers behind the scenes. As long as they want, a single function can make your assets instantly invalid. Your enthusiasm for chasing the limit up might just be stepping into someone else's harvest plan.

So how to avoid contract risks? Here are some essential checks:

Step 1: Use Etherscan to scan the contract code. Focus on looking for "blacklist"
MEME4,76%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 5
  • Repost
  • Share
Comment
0/400
notSatoshi1971vip
· 01-05 04:39
27 yuan turns into 67 million then back to zero? I've seen this plot too many times; Meme coins are just gambling machines. The blacklist permission thing is really incredible; with just one button, developers can wipe out your entire investment. These days, you have to dig into the contract yourself to invest; no wonder so many people get scammed.
View OriginalReply0
MidnightGenesisvip
· 01-03 16:53
On-chain data shows that these types of projects all left backdoors during deployment. From the code, the blacklist permission is like a time bomb, already embedded long ago.
View OriginalReply0
LayoffMinervip
· 01-03 16:52
It's the same old trick, you still have to keep an eye on blacklist permissions. --- 27 dollars for 67 million? Wake up, everyone. This is just a bait. --- Developers hold the power of life and death. Are you still dreaming of making money? --- Meme coins are gambling. Don't add drama to yourself. --- Check the contract code? Most people can't understand it at all. --- Basically, it's a leek harvesting machine. Those who understand code know. --- Once permanently blacklisted, the account is ruined. That's too harsh. --- It's always like this. No one listens to risk warnings.
View OriginalReply0
SneakyFlashloanvip
· 01-03 16:36
It's more politely called decentralization, but frankly, isn't it just the house always having the final say... Turning 27 into 67 million and then zeroing out overnight, I've seen this trick way too many times.
View OriginalReply0
CryptoMotivatorvip
· 01-03 16:28
That's why I never touch unaudited contracts; too many people have been burned by this.
View OriginalReply0
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)