[coreyoconnor]

For fun I've been analyzing the contracts posted to r/CryptoMoonShots. Out of 20 posts 16 of them used the same contract; modulo names. This contract blocks everyone from removing funds but the owner.

How? Is it some complex chunk of code that requires a delicate hack?

No, not at all. There is literally a function with code, more or less, like: "If owner then OK here's all the funds". Anybody can check this in the contract. Yet people are dumping funds into these contracts. Even tho these contracts tend to only attract a few thousand dollars each. Well, costs next to nothing to create and spam.

A more detailed analysis of a similar contract to the one I've seen: https://cryptot3ddybear.gitlab.io/blog/posts/scam-explained-...

[twobuy]

Typically the small amount of volume is by the contract owner attempting to pick up attention from momentum trading bots.

This type of contract made a killing a few months ago. Basically miners trade by sandwiching orders in the mempool. You can search the 'salmonella' contract for more info.

[moozilla]

https://github.com/Defi-Cartel/salmonella

Link for the lazy, super interesting read.

[sneak]

Then it moves the security breach incentive to compromising the owner's keys, which is also usually pretty straightforward.