ToxicList — Community-Driven Force against Flippers

4 min readJul 9, 2021

Hacken Foundation keeps on introducing ToxicList to the industry.

We are so proud to announce that the project’s website is now ready to accept your reports on flippers. ToxicList is the result of hard work performed by security enthusiasts for whom users’ confidence matters. We strongly invite you to test the functionality of the project’s website and make the industry free of flippers.

The voice of every ethical crypto investor matters. Unethical investors like flippers try to destroy all the positive things that the crypto enthusiasts like Hacken have been developing for the last few years. We must not give them any chance! Let’s combine our efforts to deal a decisive blow to crypto flippers. Together we are a POWER! — your Dyma Budorin, CEO @ Hacken Foundation.

With ToxicList, the information about flippers provided by users may be worth millions of USD. Only by collecting information about unethical investors from as many users as possible, ToxicList can protect great innovative projects from collapse. Every piece of information submitted by users will make a difference!

So, report on flippers today to sleep soundly tomorrow!

Read the material below to realize how to beat unethical investors to protect new innovative projects.

Strategic Goals

The key idea behind the launch of ToxicList is to protect new projects against unfair investors (known as flippers) who sell most of their tokens almost immediately thereby causing the price collapse. Startups interested in checking whether their potential investors are reliable business partners who are focused on the sustainable project’s growth will be highly interested in working with the ToxicList solution. By using ToxicList projects can view the verified list of flippers to later ban them from participating in their sale rounds and, thus, dramatically mitigate the risk of price shocks after listing. ToxicList will leave no room for flippers to make any manoeuvres and the only option for them would be to start investing ethically.

Mechanism

Before diving into details, let us clarify how we define flippers (CURRENT DEFINITION)

Flipper is an investor who gets the project’s tokens to his address before the project’s official listing and sells >30% of the received assets within the first 3 days after listing.

The mechanism of ToxicList functioning includes 3 key elements:

I. Collection of reports on flippers

Users need to submit open (will be published after validation) and validation (will not be published, will be used only by our experts for validation purposes) data.

Open Data

Flipper’s Address to which the Tokens from the project were distributed
Token symbol representing the Project
Investment round (Private round, Seed round, IDO) when the Tokens were allocated by the Project for the Flipper
Flip amount (in $USD) how big was the flipping case
Flipper’s Name, eg. Name of fund or investor, a link to Flipper’s website, or SM profile.

Validation Data

Flipping Txn Hash (or link to Etherscan) showing that Token was sold, sent to Liquidity Pull. This is the main proof of the Flipping case and it determines whether the reported data will be added to ToxicList. Please provide several Txn, if Tokens from Flipper’s Address were dispersed and sold through several wallets.
Proofs that Flipper’s Address is Linked to Flipper’s Name, eg. fund’s webpage with Address or link to a social media post. ToxicList can contain Flipper’s Address only, BUT the same Flipper can use a new address each time he gets tokens from a different project. Therefore it’s better to group such Addresses under Flipper’s Name.

OR 📎 Attach Screenshot with Address and Name (it can be the chat where Flipper gave Address, SAFT, or any proof that is not in open access for ToxicList’s analysts).

Your contact info (email, Twitter, Telegram, Wechat, etc.) if you would like to be informed about validation results.

Hacken Foundation guarantees the non-disclosure of validation data provided by the users of ToxicList. At the same time, users are held liable for the disclosure of any data in the ToxicList reporting form.

We strongly invite you to contact our team (info@toxiclist.io) in case you have suggestions on how to improve the submission form or just want to share your feedback. In case you are not sure what data you need to provide, you can also contact the ToxicList team and we will help you ASAP.

II. Expert validation of reports

All submitted reports will be checked by our analysts.

III. Publication of info about flippers

Only when all data submitted in a report are correct, the information on flippers (Open Data) will be published on the ToxicList website.

Future Plans

The ToxicList team is going to further develop the mechanism of the solution’s functioning. We are also going to give unethical investors (flippers) a chance to leave the blacklist. To this end, we are going to develop a special whitelist of investors and determine the criteria by following which a flipper can become an ethical investor.

ToxicList is the community-driven force. Thus, only your active involvement will allow us to effectively fight against flippers! Let’s work together!