Real-Time Warning About Scams: BNB Chain Deploys New DApp Aggregator

Vignesh Karunanidhi
Real-Time Warning About Scams: BNB Chain Deploys New DApp Aggregator
Source: BGR India

DappBay, a new platform deployed by the BNB chain, will now give out a real-time warning to users about risky DApps.

The crypto realm is not new to scams and phishy projects. With the rising adoption rate, the number of victims that fall prey to such scammy projects is also on the rise. This usually occurs when there is a lack of research about the project, the team, or the utility before users invest their money in it.

With new crypto projects emerging every day, it has turned out to be quite a pain to filter out the legit from the scam. The new platform by the BNB chain is easing out the whole process.

The platform will have a dedicated “Red Alarm” section that assesses projects in real time and warns users of their potential risks.

DappBay lets users stay safe amid the rising scams

DappBay’s Red Alarm feature scans contract risk and assists users in avoiding risky projects. Users can also enter a smart contract address to check whether a project is scammy or not.

“Most importantly, the Red Alarm feature helps users in staying one step ahead of scammers; the system warns in real time of potential risks associated with the projects, allowing the community to make informed investment decisions,” said Gwendolyn Regina, a BNB Chain investment director.

That’s not all, the platform also analyzes potential and noteworthy projects that are displaying the best performance and growth. Staying ahead of scammers and receiving a prior warning about a project is quite underrated.

Recently, CZ warned users about a potential exploit that happened on Uniswap and warned the Uniswap team, that they could quick action and ensure safety. Even though the exploit turned out to be a phishing attack, the quick response was helpful.