BNB Chain on Red Alert: Avoid These 70 Dodgy Crypto Projects

Avalanche of crypto-scams – The unexpected success of memecoins like Dogecoin (DOGE) Where shiba inus (SHIB) during the last bull run caused a abundance of clones (the SHIB being already a clone of the DOGE). Some are so doubtful that the warning system of the BNB Chain tripped on no less than 70 “projects” cryptos.

There is a bone in these “Dogecoin apprentices” of the BNB Chain

It has become so easy to create tokens, or even blockchain clones, that thousands projects now abound in the cryptosphere. that they try to be at least sincere in their gait (but with serious flaws), or whether they are mounted as scams (scams) from the start, many of these projects will ruin their investors (more or less voluntarily therefore).

In this context, and as Cointelegraph reports in particular, the teams of the BNB Chain (formerly Binance Smart Chain) have set up ” Red alert “ (Red Alarm) for about 1 month. This alert system makes it possible to prevent crypto investors risks that they run on some projects present on the BNB Chain.

“Our platform Red Alarm flagged 50 projects as potential scams. Avoid them, stay SAFU. »

Twitter account @cz_binance

>> Invest with serenity? Sign up on Binance (commercial link) <<

Already more than 70 cryptos (shitcoins) redlisted

At the time of this writing, August 16, 2022, the BNB Chain alert system had at least 70 tokens including major risks for their investors/users.

According Gwendolyn Reginadirector of investments for the BNB Chain, the alarm system put in place would have screened no less than 3,300 smart contractsin the month of July 2022 alone.

In addition to warning potential victims, the system specifies which element(s) is perceived as dangerous. For example, for BabyDogeGas, Red Alarm explains that his smart contract contains “one or more risks” who could “impact funds” users. Or WEB CADincluding the smart contract “executes differently” what the owners of the project had announced.

BNB Chain's alert system monitors smart contracts.
Don’t Get Trapped with BNB Chain’s Red Alarm
Source: dataplay

The flaws in the smart contracts are unfortunately always possible, with consequences that can be disastrous. You might as well avoid projects whose problems can be detectedespecially those who feel from afar the rug sweater. That is to say when the “developers” of a (messy) project leave with the cash registerleaving their community in limbo at best, and ruined at worst.

Are you looking for a platform that saves you from the dangers? To do this, and start getting acquainted with this exciting world, do not wait for you create an account on Binancethe reference Bitcoin and crypto exchange (commercial link).

Leave a Comment