❄️Freeze Authority

Understanding Freeze Authority in Memecoins

When trading memecoins, it's crucial to understand freeze authority. Here's a straightforward explanation:

What is Freeze Authority?

Freeze Authority: This allows the creator of a coin to freeze any token at any time.

This can give the impression that the coin is still active, with others buying and selling, while you might be unable to do so.

How Does Freeze Authority Work?

Freeze authority lets the coin’s creator prevent you from moving or selling the token. This can effectively trap your funds, creating a 'honey pot' situation.

Risks of Freeze Authority:

Malicious Developers: Some developers may exploit this feature by freezing your token account. This means you can’t sell that specific token, even though other assets in your wallet remain accessible.