YEAR token distribution turned out to be a planned fraud Th | Top DeFi

YEAR token distribution turned out to be a planned fraud

The distribution of YEAR tokens, which allowed to see wallet activity on an annual scale through a special website, turned out to be a planned fraud scheme.

Initially, the creator of the smart contract did not give away his evil intentions in any way. Moreover, the smart contract was even audited. However, later it turned out that the burn function (which actually didn't burn, but checked the recipient's address) of the tokens had been created in advance with the possibility of spoofing the data.

As the logic of the smart contract claimed, users could not send tokens to the address of the contract holder. As soon as YEAR's giveaway gained popularity, it launched a feature with address spoofing.

As a result of the above actions, users lost the ability to sell tokens on Uniswap, but the purchase still worked.