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BNB Chain, the blockchain created by crypto trade Binance, refreshed its red caution rundown to incorporate 191 high-risk projects, fake tokens, and decentralized applications (DApps) presently facilitated on the blockchain. [embed]https://twitter.com/BNBCHAIN/status/1647827227210383360[/embed]
High-Risk Projects & Fake Tokens Listed On BNB Chain
BNB Chain’s red alarm list — updated every Friday — includes projects and DApps deemed risky investments purely based on smart contract assessment. The 191 new projects on BNB Chain that have been added to the list are either suspected of issuing fake tokens, high or opaque tax fees, or simply because their websites or Twitter handles don’t work. The portal depicted in the above screenshot allows users to scan BNB Chain projects for potential risks. Among the projects scanned, three - CycGo, Piston Token, and Shorter Finance - were identified as having potential funding links to Tornado-originating assets and thus were flagged as suspicious.
BNB Chain's Proactive Alert Not An Investment Advice
It is essential to keep in mind that BNB Chain's proactive alert is not investment advice and does not accurately reflect the level of risk associated with the DApp projects that underpin it. Instead, it aims to assist users in their research prior to making decisions regarding investments.