Is BICO Safe? What Our Security Scan of Biconomy Token Found
Introduction
The Biconomy Token has a trust score of 70, a trust grade of A, and a scam probability of 30%, with the most significant risk being that top 10 holders control 66.9% of the supply, and a notable positive signal being that the contract source code is verified. It's currently trending, which has led to increased interest in its security.
What the scan found
The on-chain security scan of the Biconomy Token, which is an ERC-20 token on the Ethereum chain, found several key points. The token has a trust score of 70 and a trust grade of A, indicating a relatively high level of trustworthiness. However, there is a 30% scam probability, which is a significant risk factor. The scan also detected that the contract has no mint function, the contract source code is verified, and ownership has been renounced. Additionally, the token has no buy or sell taxes and is not freezable. The liquidity is $13,931, with 0% of tracked liquidity locked, and there are 17,577 holders, with the top 10 holders controlling 66.9% of the supply.
What this means for you
For someone considering the Biconomy Token, the scan's findings indicate a mixed picture. On the positive side, the verified contract source code and the lack of a mint function are good signs. The large number of holders is also a positive signal. However, the high concentration of supply among the top 10 holders and the low liquidity depth are significant risk factors. The fact that there is no liquidity locked also raises concerns. It's essential to weigh these factors carefully and consider the full token security checklist, available at the full token security checklist, before making any decisions.
This analysis is based on automated on-chain data and should not be considered as financial advice. For the most up-to-date information, visit the full live scan of the Biconomy Token. To scan other tokens, use our free token security scanner.