New Chain Hype Meets Old Scam Tactics: Relay Protocol Warns of Robinhood Chain Honeypot Coins

Relay Protocol Warns: There’s Been an Increase successful Scam Tokens Designed to Remove Themselves After Purchase

The Relay Protocol level moved rapidly connected X to clarify that these incidents bash not correspond a wide wallet compromise oregon an infrastructure breach wrong Relay. Your private keys and different balances stay secure, arsenic the blase scam logic is contained strictly wrong the malicious token declaration itself.

Robinhood Chain, an Arbitrum-based Ethereum furniture 2 ( L2) network, launched connected July 1, 2026, with important fanfare centered connected tokenized stocks and decentralized finance ( DeFi). However, the permissionless quality of the web has allowed atrocious actors to deploy fraudulent tokens astatine scale. Alongside morganatic stock-token projects, aboriginal onchain enactment has been heavy saturated with fake tokens and meme coins, creating an situation wherever scammers tin easy exploit inexperienced traders.

“There’s been an summation successful scam tokens designed to region themselves aft purchase,” Relay Protocol stated successful a societal media update. “If you bought one, the funds you spent are unluckily gone. We’re blocking these tokens arsenic they amusement up and verifying harmless ones”.

How the Honeypot Works

A honeypot typically functions by allowing a idiosyncratic to bargain the token, portion hardcoding rules that forestall the unfortunate from selling oregon initiating an automatic transportation of the funds to the attacker’s wallet. One idiosyncratic reported a circumstantial instrumentality involving a hidden retention mapping successful a token declaration that bypasses modular ERC-20 information checks to drain assets without idiosyncratic approval.

“I was besides scammed by a token called World,” explained the X idiosyncratic named Milo successful Relay Protocol’s societal media thread. Some had said the scam tokens started becoming salient “a fewer days ago.” “Goodness radical cheque the damn declaration earlier aping into a token,” different idiosyncratic connected X warned successful the thread.

Simply an Old Scam connected a New Chain

While Relay is actively filtering atrocious contracts, the protocol advises users to instrumentality strictly to tokens verified by trusted sources. The contented truly is simple, the L2 is simply a caller concatenation seeing lots of activity, and immoderate of it has been a swarm of atrocious actors leveraging the hype. This inclination has been seen during the onset of different L1 and L2 chains. It’s not unsocial to Robinhood Chain, but visibility is owed to the network’s caller motorboat and surrounding hype.

Robinhood Chain is seeing plentifulness of morganatic volume, but amid this trend, scammers are reportedly preying connected unknowing victims trading coins.

To mitigate risk, traders should cheque the declaration code for legitimacy and execute a trial swap with a negligible magnitude of superior earlier committing larger sums. Furthermore, if a token displays antithetic marketplace behavior, specified arsenic dense buying unit with zero selling activity, it is simply a important reddish emblem that the plus whitethorn beryllium a honeypot.