Misleading Crypt

Two hints:

no 'E'

"piercing" = insertion indicator

:)
 
Your hints added nothing but a reason to pursue the idea I had when I first saw the post. Then, I didn't think of the particular word; this time, I resorted to a thesaurus, but it still took a couple looks to see it as having the right meaning.
Decoy = BAIT
(is)
A
piercing = inserted into
act = BIT
 
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