Read on Twitter
KTN pulled off one of the most funny trap i've seen in an IDO, aiming to trap liquidity sniper who buy tokens before anyone else to dump it on the community.
1/ https://twitter.com/gwendall/status/1380532497788899333
1/ https://twitter.com/gwendall/status/1380532497788899333
This is the transaction where a bot paid a hefty 68 ETH fee to the miner in order to buy 100 ETH worth of KTN before anyone can
https://etherscan.io/tx/0x36712b089e2743088b8499c77847412e54cd58da2a81bd6aca9915eaceeb393e
2/
https://etherscan.io/tx/0x36712b089e2743088b8499c77847412e54cd58da2a81bd6aca9915eaceeb393e
2/
The catch is ... there is a line in the code that says that liquidity snipers can't dump their tokens, at least not all of them. So the sniper ended up with tokens he can't get rid of and paid 100 ETH + 68 ETH to the miner for it.
3/
3/
The @kattanatrade team even published the source code, with the "LiquidityTrap" feature, which prevents sniper from dumping their token. I suspect sniper check if source are published in order to see if the project is "legit".
https://bit.ly/2Q8Ckxb
4/
https://bit.ly/2Q8Ckxb
4/
A cheeky taunt and a true power move.
In the Ethereum dark forest, the predators can become prey in an instant
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In the Ethereum dark forest, the predators can become prey in an instant
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