DappBay’s Red Alarm Identified Over 100 Risky dApps This Week

  • According to BNB Chain, DappBay identified over 100 risky dApps this week.
  • The risky dApps identified by DappBay include Genesis Universe, DeXe DAO Studio, Web3 Pilot.
  • DappBay’s listing model involves daily updates as it identifies more risky dApps on the BNB Chain.

According to BNB Chain, DappBay, the Web3 dApp Store for users to safely explore and use dApps on BNB Chain, identified over 100 risky dApps this week. In a recent post on X (formerly Twitter), the blockchain network noted that Genesis Universe, DeXe DAO Studio, Web3 Pilot, Quick Pay, Silo, and Crystal were all included in DappBay’s recent list of risky dApps.

The platform used by DappBay for the recent exposure is known as Red Alarm and is updated regularly with dApps and smart contracts assessed as scams or carrying extremely high levels of risk.

Red Alarm provides information about risky dApps in a tabulated format, listing their names, categories, the risk driver behind the dApps, risk levels, and the date of listing on the platform.

Genesis Universe featured prominently on the list of risky dApps on DappBay’s Red Alarm. It is a play-to-earn NFT cards exploration game built on the Binance Smart Chain (BSC) with the theme of exploration and fighting in a new world.

BNB Chain also noted the listing of DeXe DAO Studio as a risky dApp on DappBay. It Features under the tools and utility category, with a risk level of “significant risk.” According to its creators, DeXe DAO Studio is supposed to help DAOs grow fast and sustainably, with active and useful participation of members and an emphasis on expertise.

Also noted by BNB Chain is Web3 Pilot, which DappBay’s Red Alarm categorized as a “High Risk” dApp. According to Red Alarm, Web3 Pilot’s risk driver is a Ponzi scam that lured investors with the false promise of extremely high returns.

DappBay also listed the other dApps with specific details, and the platform’s listing model involves daily updates as it identifies more risky dApps on the BNB Chain.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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