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Relay Protocol warns: A large number of "honeypot" token scams have appeared on Robinhood Chain.
Golden Finance reported that on July 10, security protocol Relay Protocol issued a warning that a large number of scam tokens have emerged on the newly launched Robinhood Chain, and investors face the risk of losing all their funds after purchasing.
Relay Protocol confirmed that it has received multiple user reports stating that after purchasing certain tokens, the tokens immediately disappeared from their wallets and could not be sold or transferred. These honeypot tokens use smart contract code to set restrictions, allowing purchases but not sales, permanently locking investors' funds. The surge in scam tokens coincides with the explosive growth in user activity and token creation on Robinhood Chain recently.