Understanding fake and honeypot tokens
A counterfeit token impersonates a real cryptocurrency — same name, same symbol, different contract address — but has no connection to the legitimate project. These tokens are commonly distributed through malicious smart contracts or unsolicited airdrops.
Even when they appear to have value in your wallet, that price is artificially inflated and does not reflect real market liquidity. You cannot sell them, and the displayed balance cannot be withdrawn or exchanged for actual funds.
Their presence in your wallet does not mean your wallet has been compromised. The danger is entirely in interacting with them — visiting a linked site, attempting to swap, or approving a contract could put your genuine assets at risk.
⚠️ The screenshot above shows a counterfeit BTC token on BNB Smart Chain. Receiving an unsolicited token does not indicate your wallet is compromised. The risk lies in interacting with it. Never swap, send, or approve any contract linked to a token you did not acquire from a verified source.
Step 1 — Check the token on GoPlus Security
Before doing anything, look up the token's contract address at gopluslabs.io/token-security. Select the correct blockchain and review these fields:
Signal | What it means |
Sell tax: unknown | Swap blocked — Trust Wallet cannot verify the fee structure |
Sell tax: 100% | Honeypot confirmed — you cannot sell this token |
Is honeypot: true | Confirmed honeypot — funds used to buy are not recoverable |
Is airdrop scam: true | Known scam distribution — do not interact |
No verified source code | Treat with caution |
Buy/sell tax: known, reasonable | Likely legitimate — swap blocked only due to data availability |
Never interact with a token you didn't purchase or knowingly receive. If a token appears in your wallet unexpectedly — regardless of the value shown — treat it as suspicious until verified.
Step 2 — Identify what type of issue you're dealing with
If GoPlus confirms a honeypot
A honeypot lets you buy but blocks you from selling. Additional signs:
The token has buy activity but zero sell transactions on the block explorer, a public tool for looking up transactions and token activity on a blockchain
Swap fails consistently across multiple DEXes, peer-to-peer trading platforms that operate without an intermediary, not just Trust Wallet
No verifiable team, audit, or social presence for the project
If GoPlus confirms a honeypot, the funds used to buy it are not recoverable.
If the token appears legitimate but the swap is still failing
Some real tokens have high buy/sell taxes and their data hasn't been fully indexed yet. If the swap fails across multiple platforms, that remains a strong indicator of a honeypot regardless of what the project claims.