What is a honeypot in crypto?
A honeypot is a token that allows buyers to enter while making exits fail or become economically irrational.
That can happen through blacklists, dynamic taxes, selective execution paths, or owner-controlled permissions that change under live conditions.
How to detect honeypots before buying
A strong checker needs to inspect more than a single happy-path simulation.
Check whether selling is currently possible
Test whether selling is actually possible now, not just theoretically possible in a narrow simulation path.
Inspect fee logic and owner controls
Inspect fee logic, owner controls, and whether taxes can be rewritten after buyers enter.
Review liquidity and slippage context
Review liquidity and slippage context, because a path can be technically open but practically unusable.
Look for delayed attack paths
Look for delayed attack paths such as blacklist-ready storage or upgrade hooks.
Common honeypot patterns traders should recognize
Blacklist controls, extreme sell taxes, proxy patterns, and selective execution are still among the most important structures to recognize.