BNB Chain, the blockchain developed by cryptocurrency exchange Binance, has updated its red alert list to include 191 high-risk projects and decentralized applications (DApps) currently hosted on the blockchain.
BNB Chain’s red alert list updated every Friday includes projects and DApps that are considered venture capital based purely on smart contract evaluations. The 191 new projects on BNB Chain that have been added to the list are either suspected of issuing fake tokens, high or opaque taxes, or simply because their websites or Twitter handles don’t work. The screenshot above shows a portal where users can scan any BNB Chain project for risk. Of these, three projects CycGo, Piston Token, and Shorter Finance were flagged after being suspected of being funded by assets from Tornado.
“Make sure to check out our weekly red alert list to familiarize yourself with suspicious actors on our network,” reads BNB Chain’s announcement on the matter. It should be noted that the active warning of BNB Chain is not an investment recommendation, nor does it represent the risk level of the underlying DApp project. Instead, it's designed to help users do their research before making an investment decision.
