🧠How to Spot a Scam in Smart Contract Functions

Smart contracts are the backbone of most crypto projects. But hidden inside them, scammers can insert dangerous functions that give them full control. Here's how you can start reviewing them — even if you're not a developer.

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✅ What You'll Need

• A block explorer like Etherscan.io or BscScan.com

• A bit of time and curiosity

• (Optional) A GitHub account to explore external audit repos

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🔍 Step-by-Step: Reviewing a Contract for Red Flags

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1. Find the Contract Address

• On the project’s page (on CryptoAlleys or elsewhere), locate the smart contract address.

• Copy it, and visit the relevant explorer:

  • Ethereum: https://etherscan.io/address/CONTRACT_ADDRESS

  • BSC: https://bscscan.com/address/CONTRACT_ADDRESS

  • Others: Solscan, Arbiscan, etc.

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2. Check If the Contract is Verified

• On Etherscan or BscScan, check if the contract source code is verified.

  • If not: ⚠️ Big red flag. Unverified contracts can hide dangerous logic.

• If yes: Click "Contract" to view the source code.

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3. Search for Common Scam Functions

Use Ctrl+F (Find) and look for these keywords:

🔥 setFee, setTax, or setBuyFee

• Can be used to change fees after launch (e.g., raise it to 99%).

⚠️ blacklist, ban, or restrict

• These can block wallets from selling tokens — common in honeypots.

🔓 mint or createTokens

• This function lets the owner create unlimited tokens — leading to supply inflation or rug pulls.

🧯 withdraw, transferOwnership, rescueTokens

• Can be legitimate, but risky if not time-locked or overly permissive.

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4. Look for onlyOwner or Ownable

• If too many functions are restricted to the owner (onlyOwner), they might have too much control.

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5. Check for Honeypot Behavior

• Use external tools:

  • honeypot.is

  • tokensniffer.com

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6. Review External Audits (GitHub Links)

• If the project links to a GitHub repo, look for:

  • Audit Reports (audit.md, security-review.pdf, etc.)

  • Code Review summaries

  • Auditor profiles

⚠️ Note: Some scammers fake audits — always confirm the auditor's identity.

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7. Analyze Ownership & Wallet Distribution

• On the token’s explorer page, click "Holders".

  • Is one wallet holding 80–90%? That’s risky.

  • Look for locked liquidity or multi-sig wallets.

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8. Ask These Questions

• Can the team manipulate the token’s functions anytime?

• Is the liquidity locked?

• Is the ownership renounced?

• Does the community trust the project?

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📌 Bonus Tools for Extra Analysis

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👨‍⚖️ Final Tips

• If you don’t understand a function, Google it or ask in our community forums.

• Don’t invest just because a project has hype. Always check the contract first.

• Report suspicious behavior on CryptoAlleys' Report Page.

• Learn more about Contract Auditing - Advanced