What Is a Honeypot in Crypto? The Token You Can Buy but Never Sell

A honeypot in crypto is a token that lets you buy but blocks you from selling. The contract contains hidden rules that trap your money, so only the creator can cash out. The chart looks perfect because nobody else is able to sell. Honeypots are among the oldest tricks in meme coins, and they still catch beginners daily. Fortunately, you can detect most of them in under a minute. The term also sits in our meme coin glossary , next to the other scam words. How a Honeypot Works Every token runs on a smart contract.