BNB Chain Updates Red Alert List to Include 191 High-Risk Projects and Fake Tokens

BNB Chain, created by the crypto exchange Binance, has updated its red alert list to include 191 high-risk projects, fake tokens, and decentralized applications (DApps) currently hosted on the blockchain.

High-Risk Projects & Fake Tokens on BNB Chain

BNB Chain’s red alert list, updated every Friday, features projects and DApps considered risky investments based on smart contract assessments. The 191 new projects added to the list are suspected of issuing fake tokens, having high or opaque tax fees, or having non-functional websites or Twitter handles.

Identified Fake Tokens on BNB Chain

The portal depicted above allows users to scan BNB Chain projects for potential risks. Among the projects scanned, three—CycGo, Piston Token, and Shorter Finance—were flagged as suspicious due to potential funding links to Tornado-originating assets.

BNB Chain's Proactive Alert is Not Investment Advice

It's important to note that BNB Chain's proactive alert is not investment advice and does not accurately reflect the risk level of the DApp projects listed. Instead, it is meant to aid users in their research before making investment decisions.