A easy guide for traders to check whether a contract is another instance of SafeBinance family scam as it turns out multiple scams token from this family are created every day. A full analysis can be found here BSC-SCAM: Stealthy Liquidity Pool Block on PancakeSwap. It would not save you in every case, but maybe it might increase your probability to not lose your money in certain cases.

As there are multiple tokens popping up daily, belonging to this scam family, here is a quick guideline how to recognize another instance without any technical skills, only using your browsers and a few clicks.

The tutorial is based on MarsBank (MARSBANK) token which seems to belong to the same family, but by the time of writing this article was not yet flagged as a scam.

0x9d69c6138e819d366ab07a1091d2ab623031e0e8

Step 1 – You got an address. Great. Go to TokenSniffer⌗

TokenSniffer does an excellent job showing similar tokens. However, as new tokens are created every day it might happen that some are not flagged as a scams. As a trader, make sure to check if the token was already analysed by TokenSniffer. Go to the following URL to check the token you want to buy and check if it was analysed:

https://tokensniffer.com/token/0x9d69c6138e819d366ab07a1091d2ab623031e0e8

As presented in the screenshot, there are multiple tokens with a very similar contract. Even though the main token is not flagged as a scam, check some highlighted tokens, as they might have already been reported. Keep in mind the Score closer to 1 means the contract is more similar to a given token. View can be clicked to see the differences, as usually it’s only a different name.

If it is very similar to other token that is marked as a scam, this token will be most probably a scam also. You can already do not bother to check it further, however to be sure you can check other steps.

There might be a case where there is no info in TokenSniffer about the token you are checking. It means it was not analysed and you simply need to wait and lose a chance of early buy or risk. Do your own research and remember those are your money. #bsSAFU!

Step 2 – Go to BSCSCAN to the details of the token⌗

To go deeper, go to BSCSCAN.com. The website shows all the transactions, address of the contract, and allows you to see some properties of the contract behind the token.

https://bscscan.com/token/0x9d69C6138E819D366AB07A1091D2ab623031E0E8#readContract

I would not talk about others indicators of a potential scam token, but let’s focus on the most imporatant check and go to Read Contract tab.

You can see the Read Contract tab at the bottom of the screenshot above.

Next stage is to check whether there is a variable newun and what is its value. More details why it is this variable and what it does you can find in the previous blog post about the analysis of this scam (link at the top).

As presented in the screenshot the variable newun is there and is set to an address.

I folded irrelevant functions, so simply scroll down after selecting Read Contract if newun is not at the top.

The address is set to 0x3edccf0d87f7c430c4deacf4a2ed1e7bfb73b1ee and when the link is clicked it leads to the address of the PancakeSwap Liquidity Pool of (in this case): MarksBank 3 token.

Naturally, there might be some legit contracts using this variable, however each contract I checked and were highlighted as similar and not yet flagged as a scam on TokenSniffer were a copy-paste and a potential scam.

Step 3 – Final chart confirmation⌗

If you want to be sure the token is a scam or you simply bought a token, you got a transferFrom error in PancakeSwap and cannot get back your money, you can check the last indicator – a only green chart.

In this case it is clear that all people who bought are unable to swap it back. However, keep in mind that scammers can fake some swap-back transactions to show here some red candles. However, if it is green only and you are unable to swap it was unfortunately a scam.

Final thoughts⌗

• msg @cryptot3ddybear on Twitter if you found a scam and want to know how it works or increase your chances to not fell for it again
• for more details about this scam family go to previous posts

Buy a coffee⌗

Found it useful? Learnt something? Saved your moeny? Buy a coffee:

MetaMask Wallet address (Etherum, BSC)
0xD9Da5Fd5B049Da96e8C51738Ea93501f2e414EE6