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Saving Nanocap Speculators from Themselves
Introduction I spent the summer of the 2021 cryptocurrency bull market fascinated by a hive of foolishness and deception: /r/cryptomoonshots (and, to a lesser extent, its analogues on discord and telegram). People’d post a token address (typically Binance Smart Chain (“BSC”), occasionally Ethereum (“Eth”)) along with a pitch or maybe a website and an inducement: “buy right now!”.
Many of the people buying this stuff were interacting with cryptocurrency for the first time, via installing trustwallet and then tap-for-tap following instructions on how to purchase and then swap BNB on pancakeswap, provided to them by the person scamming them. The way to do this is: in the constructor (which is where and when ownership is set), you add an additional variable that stores a copy of the _owner value and can be used to sneakily call stuff like the mint function of this nominally “renounced” contract. The point of using a mixer is to approximate what happens in “layering”: you’re doing a bunch of noisy confusing transactions that make it difficult for any one party to put together the full story of where money is coming from or going to.
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