Renounce Contract Is Just A Buzz Word. Don't be Tricked!

After spending decent time analysing the code of a recent smart contract it is evident that Renounced is just a stupid buzzword! Never fall into the trap of just hearing this. Many Crypto investors don't even understand what is meant by Contract Renouncement means

Contract Renouncement means functions with the scope of onlyOwner can not be run which means most of the Contract crucial functions no longer belongs to Contract Owner!

Deployer can still run functions after Contract is Renounced. For example, you often come across the function manual swap. All they need is an external function without onlyOwner scope Lol!

To be more comprehensive, contracts can have functions like the below and can run such functions to rug pull even after Renounced.

``` function manualSend() external {

require(_msgSender() == _taxWallet);

sendETHToFee(address(this).balance);

}

function manualSendToken() external {

require(_msgSender() == _taxWallet);

IERC20(address(this)).transfer(msg.sender, balanceOf(address(this)));

} ```

The above function converts tokens available in the contract to eth and sends eth to the deployer wallet. These days contracts are releasing approx 25% in it or 10% in contract.

These functions allow Deployers to pull the plug softly in a different way

Functions do not need to be like the above, they can be literally with any name.

Hence, Renounce is just buzz word, and should be careful!