Blockchain News: How $YEAR Token Destroyed A $10,000 Investment In Under 6 Hours

(4) meows.eth on Twitter: “A few hours ago, a promising token called $YEAR was airdropped. It was set up as a “year in review” of your Ethereum transaction history. Less than an hour ago, this turned into a painful experience for buyers of the token. Here’s how $YEAR pulled the rug in under 6 hours🧵 1/” / Twitter

“EtherWrapped was a website which let you connect your Metamask wallet and view your year in history with ETH and ETH-based NFTs. It showed you the statistics of your wallet and calculated a token reward based on it. 2/

“Everything in Ethereum is handled via Smart Contracts — pieces of code that anyone may write and contribute to the Ethereum Virtual Machine (EVM) which you can consider to be a “world computer”. $YEAR is no different — here is its contract: 3/ https://t.co/MEPfUjzSOD"

“When you deploy a contract to the EVM, it starts out as an “unverified” contract to Etherscan which is the main source of truth for Ethereum. Note: You should always be cautious of interacting with unverified contracts on the EVM. 4/

“After calls from members of the community, the creator of the $YEAR contract verified it. This is important because a verified contract shares its source code with the world, giving us transparency into the…