Cheating The Scammers? Minereum And The Honeypot!

The other day I wrote an article because I received the Minereum airdrop on the BSC. You can find it here: Minereum Also On The BSC: Is It Possible To Trade Them? Is it Legit?
I think that many other people have also received it because the Minereum founders have been spamming these tokens in users' wallets for years. Then, as we have understood, these are not tokens but genesis addresses from which to extract the tokens. A Publish'ox user noted that it takes about 40 years to mine these tokens.
Then? What is the purpose of this new article? One purpose these Minereum tokens could have.
Why not use them as "Honeypot" to scam scammers? I read that a user had used a similar system to scam scammers in a chat! :-D

The system is very simple to implement:
1) In the wallet where the Minereums arrived (ETH network), remove all the other tokens and leave only these
2) The hardest part is to create a script that transfers transactions from this address (where you keep your "precious" Minereum) to another address of yours of which you have seed or private key
3) Congratulations! You just created a honeypot...a nice rich wallet with over $ 30,000 on it. Who wouldn't like to have your seed?
What you see in the photo below is my wallet but remember to remove the other tokens and use the Minereum on the Ethereum network!

4) Now when some scammers (or phishing page) ask you to enter the seed of your wallet ... you will put the seed of this address
5) Well, the scammers import the wallet and find themselves a gold mine. If they don't know Minereum they will try to move it but since there is no ETH... they will be forced to send it
6) Sent ETH the transaction will be re-routed to another of your wallet
7) The scammers have been scammed

This instead is a well-known Honeypot address (with private key... that everyone knows! Here it is: 049bb603adbd99a8a00aeef83d2ceacc3f2958cd927f7295188ae43cbeb09df9 ) in which the scammers promptly try to move the MNEB but the transactions always fail and the ETH disappear in the ░V░O░I░D░!


A similar scam had been concocted with FDZ (a token that had not yet been released and that needed a lot of gas to transfer it).
This method worked by exploiting the logic of how Ethereum miners process the transaction: the miner always chooses the transaction with the highest gas price and skips transactions (with the same nouce) that have a lower gas price.
The boy to scam the scammers had created an automatic script, exploiting this principle. The gas limit for the FDZ token transfer was 60740 gwei while the gas limit for the ETH transfer is only 21000. So let's assume you are the one who gets the private key and want to steal the token, calculate that you will pay X gwei for the price of gas, then you will send 60740 * X. Then the scammer's script will see that transaction and immediately create a new transaction to spend 90% of the ETH you sent to pay for gas (with gas limit = 21000 and gas price = Y) getting 10% ETH in the wallet of the crook.

So we have this formula:
60740 * X = 21000 * Y / 0.9 => X = ~ 0.384 * Y

So X (your gas price) always lower than Y (the scammer's gas price). You too can activate the transaction at the same time with the scammer's script (which same nouce), however your transaction will still lose ... due to the lower gas price! That's why whatever you do, whatever the price of gas you send, the scammer always has a higher gas price to steal all your ETH before you can steal his token!

This is another well-known scam (which uses the same technique):


Here you find a very interesting discussion: Tricked by a honeypot contract or beaten by another hacker. What happened?


Warning, the purpose of this article is for personal knowledge only! I hope this it has been helpful in not falling into such traps. Then if the REAL scammers are persistent with phishing page...Minereum can help!!!



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