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Dingo crypto token flagged as scam over 99% transaction fee backdoor

Published 02/05/2023, 08:57 PM
Updated 02/05/2023, 10:40 PM
© Reuters.
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The research arm of cybersecurity software firm Check Point (NASDAQ:CHKP) has flagged the Dingo Token (DINGO) as a “potential scam” after reportedly discovering a smart contract function that has been used to manipulate transaction fees.

In a Feb. 3 blog post, Check Point Research (CPR) said it looked into the code behind the Dingo Smart Contract, discovering a backdoor function "setTaxFeePercent," which can change the contract's buy and sell fee up to 99%.

An example of the smart contract function being used to manipulate transaction fees. Source: Check Point Research
An example of a user only receiving 1% of the transaction's value. Source: Check Point Research
Check Point Research (CPR) has found at least 47 instances of the smart contract function being used. Source: Check Point Research

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