Info Security Magazine recently published an article on how the increasingly popular Dingo Token doesn’t play as clean a game as we might think. According to Dingo’s whitepaper, this crypto has a 10% transaction fee. On the other hand, experts have now discovered a solution with the help of which developers can specifically steal users’ money.
Dingo Token has a hidden functionality in its code
Check Point’s specialists have such a function they found in the token’s smart contract, which allows Dingo developers to manipulate the “setTaxFeePercent” function to charge an extra fee of 95% and a liquidity fee of 4%. This would be the plus function:
This means that when using this, the transaction fee will be 99% overall. According to Check Point, this hidden functionality has been used 47 times so far. By the way, the crypto community was very upset about the case, considering that Dingo Token gained quite a lot of popularity after its launch. Now, however, experts warn of caution. The picture shows how a user received a token for only 1% of his invested money:
According to the aforementioned article, this kind of fraudulent activity is quite common, especially since in the world of cryptocurrencies everyone, even fraudsters, can enjoy the opportunities of anonymity and speed. Of course, this does not mean that Dingo Token is really a fraud. However, Check Point experts warn that everyone should act very carefully. Regardless, the outflow from the token started, as the Dingo Token lost 99.8% of its value in a single day.
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