BNB Chain, the blockchain developed by crypto exchange Binance, updated its red alarm list to include 191 high-risk projects and decentralized applications currently hosted on the blockchain.
BNB Chain’s red alarm list 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.
“Make sure to review our weekly Red Alarm list to familiarize yourself with suspicious actors on our network,” read BNB Chain’s announcement on the matter.
It is important to note that BNB Chain’s proactive alert is not investment advice and does not represent the risk level of the underlying DApp projects. Instead, it is aimed at helping users in their research before making investment decisions.
