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BNB Chain releases a compilation of 191 potentially risky, unreliable DApps and counterfeit tokens.
BNB Chain, the blockchain created by the cryptocurrency exchange Binance, has revised its Red Alarm list to incorporate 191 high-risk projects and decentralized applications (dApps) currently operating on the blockchain.
The Red Alarm list of BNB Chain — which is refreshed every Friday — features projects and DApps identified as risky investments based solely on smart contract evaluations. The 191 newly added projects on BNB Chain are either suspected of issuing fraudulent tokens, imposing high or unclear tax fees, or simply because their websites or Twitter accounts are non-functional.
A glimpse of the high-risk projects on BNB Chain. Source: dappbay.bnbchain.org
The screenshot above illustrates a platform where users can assess any BSC Chain projects for potential risks. Among these, three projects — CycGo, Piston token, and Shorter Finance — were highlighted after being suspected of receiving funding from assets linked to Tornado.
BNB Chain smart contract-based risk scanner. Source: dappbay.bnbchain.org
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“Be sure to check our weekly Red Alarm list to become acquainted with suspicious entities on our network,” stated BNB Chain’s announcement regarding this issue. It is crucial to understand that BNB Chain’s proactive alert does not constitute investment advice and does not reflect the risk level of the underlying DApp projects. Rather, it is designed to assist users in their research before making investment choices.
Related: 73.3% of Q1 rug pulls occurred on BNB Chain: Immunefi
On April 10, BNB Chain initiated the testing of BNB Greenfield, an internal effort to provide decentralized storage solutions.
We’re celebrating the BNB Greenfield testnet launch!
Read the article below, then complete the following steps and we’ll select 5 entries to share a prize pool of $500 on April 19th. https://t.co/O5BkyIJDSq
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Share your thoughts on testnet using #BNBGreenfield pic.twitter.com/gmIvwCSvvB— BNB Chain (@BNBCHAIN) April 12, 2023
As reported by Cointelegraph earlier, BNB Greenfield enables users to create wallets and manage data, while developers can maintain control over data assets.
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