Can You Trust SafeMoon?

Great Success, but What About Due Dilligence?

The Case of SafeMoon

SafeMoon, Maybe Not so ‘Safe’ After All…

The Many Red Flags in SafeMoon’s Code

  1. On every transfer, tax n% and send the SafeMoon token to the SafeMoon contract balance.
  2. On every transfer, check if the contract balance is above a threshold.
  3. If that threshold is met, market sell half the contract balance into BNB using the PancakeSwap router.
  4. Add BNB + SafeMoon liquidity to the PancakeSwap router, using the owner address.

Worst Case Scenario

  • This means that the reflect tax is no longer being applied.
  • This means that everyone who’s not whitelisted from fees is now unable to trade SafeMoon. Any transfer of SafeMoon would be sent to the SafeMoon contract balance instead of the recipient, which would then trigger the liquidity logic.
  • The holders are now powerless and watch the price go to 0. Trying to sell through PancakeSwap which would now require 100% slippage, and any SafeMoon token transfer is sent to the owner contract.

Conclusion

What Obelisk can do for you

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Obelisk

Obelisk

Doing things with Smart Contracts, usually.