Close Menu
  • Crypto News
  • Markets
  • Bitcoin
  • Ethereum
  • XRP
  • Altcoins
  • Technology
  • More
    • Crypto Prices – Latest from BTC, ETH & XRP
    • NFT
    • DeFi

Subscribe to Updates

Get the latest crypto news and updates directly to your inbox.

Trending

Will Ethereum Continue to Rally? This Bitcoin OG Is Bullish on ETH

July 27, 2025

BNB Price Reaches All-Time High – Here Are the Latest Data and What You Need to Know

July 27, 2025

MUFG acquires $681M Osaka real estate to push tokenization in Japanese markets

July 27, 2025

South Koreans Caused a Boom in Trading Volume for This Altcoin Today

July 27, 2025

Bitcoin MVRV Pricing Bands Hint At $130K, But Only If This Support Holds

July 27, 2025
Facebook X (Twitter) Instagram
  • Advertise
en English
nl Nederlandsen Englishfr Françaisde Deutschit Italianoru Русскийes Españolzh-CN 简体中文hi हिन्दीja 日本語
Crypto Observer
  • Crypto News

    Bitcoin MVRV Pricing Bands Hint At $130K, But Only If This Support Holds

    July 27, 2025

    $3.1 Billion in Crypto Lost in 2025’s Painful First Half: Hacken

    July 27, 2025

    XRP Bullish Cross Playing Out Again: $9 Or $24 Next?

    July 27, 2025

    Trump’s EU Trade Deal Sparks Crypto Surge: BTC Nears $120K, BNB Breaks ATH

    July 27, 2025

    Is It Time To Exchange Bitcoin For TRON? This Metric Says TRX Is About To Outperform BTC

    July 27, 2025
  • Markets
  • Bitcoin
  • Ethereum
  • XRP
  • Altcoins
  • Technology
  • More
    • Crypto Prices – Latest from BTC, ETH & XRP
    • NFT
    • DeFi
Facebook X (Twitter) Instagram
Crypto Observer
Home » Altcoins » Red Alarm flags hundreds of risky dapps on BNB Chain
Altcoins

Red Alarm flags hundreds of risky dapps on BNB Chain

Crypto Observer StaffBy Crypto Observer StaffNovember 27, 2023No Comments2 Mins Read
Facebook Twitter Pinterest Reddit Telegram Email LinkedIn Tumblr
Share
Facebook Twitter LinkedIn Pinterest Email

DappBay, a web3 dApp store for users on the BNB Chain, has flagged over 100 risky decentralized applications (dapps) in its recent update. 

BNB Chain shared the findings on X (formerly Twitter). See below.

BNB Chain launched DappBay in July 2022, allowing users to discover new web3 projects while being kept abreast of their risk levels in real-time.

At the heart of DappBay is its Red Alarm component, a risk screening tool that can help identify possible rug pulls and scam projects by checking logic flaws or fraud risks in smart contracts.

This tool regularly updates its list with dapps and smart contracts that have been assessed as scams or deemed to carry an extraordinarily high level of risk.

Risky dapps

One of the prominent names on DappBay’s list of risky dapps is Genesis Universe, a non-fungible token (NFT) card exploration game built on the BNB Smart Chain. In this game, players explore and fight in a new world, following the increasingly popular play-to-earn approach.

However, its presence on the Red Alarm list points to possible risks in its operation, therefore advising caution for both users and investors.

Another notable addition to DappBay’s Red Alarm list is DeXe DAO Studio, categorized under tools and utilities and marked with a “significant risk” level. 

This dapp reportedly supports the development of decentralized autonomous organizations (DAOs), highlighting the importance of active, valuable member involvement and expertise. However, despite its ambitious goals, the assigned risk level indicates possible drawbacks or issues that users need to consider.

Web3 Pilot, a first-in-first-out defi investment platform, was identified as a high-risk dapp. Per Red Alarm’s indication, the platform’s main risk revolves around it being a possible Ponzi scheme, misleadingly enticing investors with the allure of unusually high returns.

Other decentralized applications highlighted in Red Alarm’s list include QuickPay, Silo, and Defi Ujm. The first two are categorized as Ponzi schemes, while the third is suspected to be a phishing website.

Read the full article here

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

BNB Price Reaches All-Time High – Here Are the Latest Data and What You Need to Know

July 27, 2025

NFT sales skyrocket 40% to $221m, CryptoPunks jump 590%

July 27, 2025

This Altcoin’s New Airdrop Announcement Caused a Sudden Spike in Its Price

July 27, 2025

Zora price up 600%, Binance Futures listing has 50x leverage

July 27, 2025
Add A Comment

Leave A Reply Cancel Reply

Subscribe to Updates

Get the latest crypto news and updates directly to your inbox.

Top Posts

Will Ethereum Continue to Rally? This Bitcoin OG Is Bullish on ETH

July 27, 2025

BNB Price Reaches All-Time High – Here Are the Latest Data and What You Need to Know

July 27, 2025

MUFG acquires $681M Osaka real estate to push tokenization in Japanese markets

July 27, 2025
Advertisement
Demo

Crypto Observer is your one-stop website for the latest crypto news and updates, follow us now to get the news that matters to you.

Facebook X (Twitter) Instagram
Crypto News

$3.1 Billion in Crypto Lost in 2025’s Painful First Half: Hacken

July 27, 2025

XRP Bullish Cross Playing Out Again: $9 Or $24 Next?

July 27, 2025

Trump’s EU Trade Deal Sparks Crypto Surge: BTC Nears $120K, BNB Breaks ATH

July 27, 2025
Get Informed

Subscribe to Updates

Get the latest crypto news and updates directly to your inbox.

Facebook X (Twitter)
  • Privacy Policy
  • Terms of use
  • Advertise with us | Publishing
  • Contact us
  • Crypto News – Press release
  • Newsletter sign up
  • Markets
  • Altcoins
  • Bitcoin
  • Crypto News
  • DeFi
  • Ethereum
  • Technology
  • Blockchain
  • AI
  • NFT
  • Thanks for joining us
© 2025 Crypto Observer. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.