BNB Chain, the blockchain network developed by Binance, updated its red flag list to include 191 high-risk projects and decentralized applications (DApps) currently hosted on the network.
Updated every Friday, BNB Chain’s Red Flag List includes projects and DApps that are considered risky investments based solely on smart contract evaluation. The 191 new BNB Chain projects that have been added to the list are suspected of issuing fake tokens, high or opaque commissions, or simply because their websites or Twitter accounts are down.
The screenshot above shows a portal where users can scan any BNB Chain project for risk. Of all of them, three projects (CycGo, Piston token and Shorter Finance) were flagged for being suspected of being funded with assets from Tornado Cash.
“Be sure to check out our weekly Red Alert list to familiarize yourself with the suspicious actors in our network,” is read in the advertisement from BNB Chain about it. It is important to note that the BNB Chain proactive alert is not investment advice and does not represent the level of risk of the underlying DApp projects. Instead, its goal is to help users in their research before making investment decisions.
On April 10, BNB Chain started testing BNB Greenfield, an internal attempt to offer decentralized storage solutions.
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Share your thoughts on testnet using #BNBGreenfield pic.twitter.com/gmIvwCSvvB—BNB Chain (@BNBCHAIN) April 12, 2023
As Cointelegraph reported, BNB Greenfield allows users to create wallets and manage data, while developers can exercise control over data assets.
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