Is TONCOIN Safe? Wrapped TON Coin Security Scan
Introduction
Wrapped TON Coin has a trust score of 85, with a trust grade of AA, and a scam probability of 15%, along with a significant risk of supply inflation due to its mintable nature. Notably, it's trending, drawing the attention of potential investors.
What the scan found
The scan of Wrapped TON Coin, which operates on the Ethereum chain as an ERC-20 token, found several key points. Its trust score is 85, with a trust grade of AA, indicating a relatively high level of trustworthiness. However, there's a 15% scam probability, which, although not negligible, is on the lower side. The honeypot signal is false, indicating no apparent trap for investors. The buy and sell tax percentages are both 0, which means no additional fees are imposed on transactions. The contract is mintable but not freezable, and ownership has been renounced, which can be seen as a positive sign of decentralization. The contract source code is verified, which adds to the token's credibility. The liquidity in USD is $189,855, with 0% of tracked liquidity locked, which is a risk factor. The holder count is 38,984, with the top 10 holders owning 29.4% of the tokens, indicating a somewhat reasonable distribution.
What this means for you
For someone considering investing in Wrapped TON Coin, the scan's findings suggest a mixed bag. On the positive side, the verified contract source code, reasonable holder distribution, and significant liquidity depth are reassuring. However, the ability to mint new tokens poses a risk of supply inflation, which could negatively impact the token's value. The lack of locked liquidity is also a concern, as it could lead to liquidity issues. It's essential to weigh these factors carefully and consider the full token security checklist, available at the full token security checklist, to make an informed decision.
This analysis is based on automated on-chain data and should not be considered as financial advice. For the most current and detailed information, please refer to the full live scan of Wrapped TON Coin. Additionally, utilizing tools like our free scanner can provide valuable insights into token security.