"Smart" Pauly and his "on-chain PVP" meme
You may have encountered countless peculiar projects during this bull market season, and have witnessed various "features" - pixiu, rat warehouse, little pool assassin, V Fud, Mario K line... Rug has become ordinary, and participants are eager to watch the K line while pulling the slippage to buy, and then cursing while watching the K line for a few seconds and pulling the slippage to sell, afraid that the next "relay" group member will be themselves."
However, the creativity of meme projects never stops. Imagine, what if you could directly transfer someone else's coins?
Initially, Pauly created PNDX...
A crypto KOL with over 150,000 followers, @Pauly0x, earlier released the meme coin PNDX, allowing users to mint new PNDX tokens with a certain amount of ETH, similar to presale or fundraising. He cleverly used Twitter Space and the community to create FOMO emotions before the sale. Afterwards, he released the official website and token contract on Twitter. But something interesting happened: people, as usual, joined the liquidity on Uniswap and started trading through bots like Unibot. However, the actual token price on the official website was 1/100 of the price on Uniswap!
The holders who minted on the official website started dumping and taking away ETH, while those friends who rushed to the contract address suffered: the money they invested turned into someone else's liquidity in less than 10 seconds.
Some people took advantage of the price difference on both sides to make a profit:
What's even more deadly is that the contract has a fatal transfer function, allowing users to call the function to transfer tokens from any holder, achieving a true "on-chain PVP" (similar to stealing crops?).
The Wise are Like Fools
The whole incident can be summarized as follows: quickly sell the PNDX tokens obtained from the official website on Uniswap. The "vulnerability" of the contract and the strange design of the official website have led countless people to feel deceived. But this is not the carelessness of the Solidity programmer, but intentional - Twitter user @0xAmazingChar said that Pauly is not ignorant, he is a genius:
1. Anyone who mints money on the official website will be converted into Spepe and enter Pauly's private address;
2. Pauly himself also participated in the minting on the official website, and specifically targeted the largest-selling transactions at the secondary level, with each transaction exceeding 200 eth;
3. Pauly designed the official website as a swap to create the illusion that the official website has the same value as the swap. Then, in the initial pool added to the swap, the token price is 100 times that of the minting on the official website, and the gears of fate start turning at this moment...
In fact, someone had already minted tokens an hour before the launch of the official website, so it can be presumed that this "accident" was probably not unintentional.
Dog Trap
All in all, through a series of operations, Pauly made the participants, like the usual dog rush participants, become someone else's liquidity, while he and others cleverly took advantage of the rules to make a fortune. Some people made money, but most people lost money - this is the most classic case of high-risk memes.
Odaily Star reminds you that memes are high-risk, so don't FOMO, and DYOR.
