Security team: Please carefully check the gas limit of the transaction when approving tokens from unknown sources

According to reports from the Slow Fog Zone, a token named GPT recently appeared on the BSC chain with a contract address of 0x513C285CD76884acC377a63DC63A4e83D7D21fb5. When a user approves the token, the wallet will increase the gas limit based on the balance, and the token contract will use the user’s gas to mint CHI tokens. When the contract collects enough CHI tokens, the manager of the malicious token contract can obtain the gas compensation returned when the contract is destroyed by burning the CHI token.

Security team: Please carefully check the gas limit of the transaction when approving tokens from unknown sources

I. Introduction
A. Explanation of the Slow Fog Zone reports
B. Overview of GPT token and its contract address
C. Purpose and functionality of GPT token
II. How the GPT token works
A. Gas limit increases with the balance
B. GPT token contract uses user’s gas to mint CHI tokens
C. Manager of malicious token contract compensates gas by burning CHI tokens
III. Risks of using GPT token
A. Potential for malicious intent
B. Risk of losing gas compensation
C. Lack of transparency in the token’s operation
IV. How to protect yourself from GPT token
A. Avoid approving the GPT token
B. Keep an eye out for unauthorized changes in gas limits
C. Use reputable platforms to trade and exchange tokens
V. Conclusion
A. Recap of GPT token risks
B. Emphasis on the importance of caution and safety when it comes to token trade
C. Encouragement to stay informed and vigilant
# According to reports from the Slow Fog Zone, a token named GPT recently appeared on the BSC chain with a contract address of 0x513C285CD76884acC377a63DC63A4e83D7D21fb5. When a user approves the token, the wallet will increase the gas limit based on the balance, and the token contract will use the user’s gas to mint CHI tokens. When the contract collects enough CHI tokens, the manager of the malicious token contract can obtain the gas compensation returned when the contract is destroyed by burning the CHI token.
The emergence of GPT token has raised concerns among the cryptocurrency community. While the token may appear harmless at first glance, its underlying workings allow for malicious intent and have the potential to cause significant harm to users. In this article, we will explore GPT token’s mechanism and the risks associated with it and provide tips on how to keep yourself safe from this potentially fraudulent token.

How the GPT token works

The GPT token operates by increasing the gas limit of the user’s wallet based on their balance. The token contract then utilizes this gas to mint CHI tokens. Once enough CHI tokens have been collected, the manager of the malicious token can burn these tokens and obtain the gas compensation returned when the contract is destroyed. This process is automated, which means that users may not even realize that their gas is being used until it’s too late.

Risks of using GPT token

The major risk of using GPT token is the potential for malicious intent. The managers of the token contract may use the gas compensation for unethical purposes, resulting in financial losses for the user. Moreover, the process is not transparent and lacks accountability, which further increases the risk.
Another significant risk associated with GPT token is the possibility of losing gas compensation. Once the GPT token contract collects enough CHI tokens, the manager can burn these tokens and obtain the gas compensation returns when the contract is destroyed. This process is automatic, and users have no control over it, which means that the amount of gas they receive back may be much less than what they expected, or worse, they may receive nothing back at all.

How to protect yourself from GPT token

The best way to avoid falling prey to GPT token’s malicious intentions is to avoid approving this token in the first place. Furthermore, users should keep an eye out for any unauthorized changes in gas limits and use reputable platforms to trade and exchange tokens.

Conclusion

In conclusion, the emergence of GPT token has raised red flags in the cryptocurrency community due to its underlying mechanisms, which allow for malicious intent and lack of transparency. We urge users to exercise caution and avoid approving the GPT token to protect themselves from any potential losses. Staying informed and remaining vigilant is the key to staying safe when it comes to token trade.

3 Unique FAQs

Q1. What is Slow Fog Zone?
A1. Slow Fog Zone is a China-based blockchain security company that provides information security services for blockchain projects.
Q2. Can I still trade GPT token if I’m careful?
A2. We do not recommend trading GPT token, given its potential for malicious intent and lack of transparency. It’s better to err on the side of caution in this case.
Q3. Is there any way to recover my lost gas compensation?
A3. Unfortunately, there is no way to recover lost gas compensation once the GPT token contract collects enough CHI tokens and the manager burns them. Hence, it’s best to keep yourself safe and avoid approving this token entirely.