Relay Protocol Warns of Honeypot Scam Tokens on Arbitrum-Based Robinhood Chain

Relay Protocol has issued a warning that a large number of honeypot scam tokens have appeared on the Arbitrum-based Ethereum Layer 2 network Robinhood Chain since its launch on July 1. According to ChainCatcher, Relay Protocol said users who buy some of these tokens may see them automatically disappear from their wallets, with funds unrecoverable. The platform said this is not the result of a wallet infrastructure breach, adding that users’ private keys and other assets remain safe because the malicious logic is contained within the scam token contracts. Relay Protocol described typical honeypot behavior as allowing purchases while preventing sales through hard-coded rules, or automatically transferring funds to an attacker’s wallet. It also cited user reports of a token contract using a hidden storage mapping to bypass standard ERC-20 security checks and steal assets. Relay Protocol said it is blocking identified scam tokens and verifying tokens deemed safe. It advised users to trade only tokens verified by trusted sources, confirm contract addresses before trading, and test with small amounts first. The platform added that scams often surge during the early stages of a new chain’s launch and said this is not unique to Robinhood Chain, noting similar patterns on other L1 and L2 networks.