How to avoid rug pulls and Binance Smart Chain scams.

Edit: TLDR, DO NOT TRUST ANYONE, JUST BECAUSE THEY SAY IT IS SAFE.

At this point anyone who has been around a year or so scammed or rug pulled due to lack of research. These are in my experience the easiest way to avoid getting scammed.

-Launchpads: They are by far easiest way to get in early to a project. But it is very risky due to nature of DeFi. You might see a token with extremely high potential, it could be a fake coin of an existing Project. For example League of Kingdoms is going to be launch on Binance Launchpad on Ethereum Chain but it is also listed on PinkSale on Binance Smart Chain. On this instance PinkSale one is fake and their 100 BNB hardcap is funded. There's nothing you can do get your investment back, forever lost. PinkSale is not responsible for you getting scammed.

Audits/KYC/Locks: It doesn't matter even If liquidity is %100 locked for 6 months. If you can't sell a coin that means project owner will steal the liquidity after lock is being lifted. It was a honeypot after all.

Now this is very important, Audits only matters If you read them. You should always check If project owner can manipulate things for you to stop selling. A) Only whitelist certain addresses to sell. B) Can renounce ownership. C) Change tax to maximum amount. You should always read Audits and check on BSCscan to verify contract.

KYC or being doxxed doesn't mean anything, people are daily stealing other people's pictures and creating a fresh social media account. You should always look for a video of that person talking about the project or AMA.

Burn Address: There's only 1-2 addresses are null. They tend to go like 000000000dead etc. You should never trust a project with low or no burnt Address. %50 burnt usually pretty safe. Doesn't mean you should blindly trust straight away. Look If it checks every security boxes for you.

Top 10 Holders: Always check If there's a wallet with High percentage of a coin. For example %60 of a token no burn wallet means %100 honeypot. Always avoid those.

Disclaimer, those are not always mean scam for example it could be Liquidity lock address for yield farming. Always make sure whitepaper mentions that address. For example look at Lucky Lion. You are sending your coins for liquidity farming. But highest holder is the address you are farming from.

A healthy project shouldn't have more than 1-2 addresses over 1 percent.

Activity: Do not swap a token being announced a couple days ago, always check their socials and active team members. Like I said before it is very easy to steal someones identity to make up social accounts.

Another good point is transaction activity. Honeypots tend to have 1-2 wallet buying and selling regularly. Always check more than few people are selling, atleast try it yourself with a small amount.

Maybe it is a safer way to invest after a week rather than rushing into it.

Those are in my experience most obvious way to detect a scam, honeypot or a rug pull. Please be safe and take care.

I do not endorse any coins I have mentioned, they are just very obvious examples to learn from.