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DappBay: Red Alarm dApp Risk-List (Oct 1st - Oct. 7th)

2022.10.7 • 2 min read

Disclaimer: The information provided through the BNB Chain community does not constitute advice or recommendation for investment or trading. Projects are listed in no particular order below. BNB Chain does not take responsibility for any of your investment decisions. Please seek professional advice before taking financial risks.

The Red Alarm list highlights risky dApps on BNB Chain. The dApps on the Red Alarm list are assigned a significant or high-risk level and range from rug pulls to scams.

In most cases, a risky dApp’s contract performs differently from what the dApp advertises. When dApp users interact with risky contracts, they are at risk of losing all their funds.

The Red Alarm list is updated every Friday on DappBay to include new risky projects and decentralized applications. With an increasing number of dApps on the Red Alarm list, users can sort dApps by category, date listed on Red Alarm, and highest number of users.

The list of dApps on Red Alarm for Friday 7th October 2022 feature a high number of fake tokens pretending to be original projects including Glowston Token, BTC (fake), BTC (fake), Tether (fake), BNB (fake), Doge Coin (fake), DAI (fake), Tron (fake), Bitcoin Cash (fake), ecash (fake), USDD (fake), Waves (fake), BitDao (fake), SafeMoon (fake), GMX (fake), and GMX (fake).

Sr. No.	dApp Name	Level of Risk	Risk Description
1	Glowston Token	High	1. The deployer controls more than 90% tokens. 2. Higher trade fees. 3. A backdoor function exists.
2	BTC (fake)	High	1. Fake token pretending to be BTC
3	BTC (fake)	High	1. Fake token pretending to be BTC
4	Tether (fake)	High	1. Fake token pretending to be Tether
5	BNB (fake)	High	1. Fake token pretending to be BNB
6	Doge Coin (fake)	High	1. Fake token pretending to be Doge
7	Dai (fake)	High	1. Fake token pretending to be DAI
8	Tron (fake)	High	1. Fake token pretending to be Tron
9	Bitcoin Cash (fake)	High	1. Fake token pretending to be Bitcoin Cash
10	ecash (fake)	High	1. Fake token pretending to be eCash
11	USDD (fake)	High	1. Fake token pretending to be USD
12	Waves (fake)	High	1. Fake token pretending to be Waves
13	Bitdao (fake)	High	1. Fake token pretending to be BitDAO
14	SafeMoon (fake)	High	1. Fake token pretending to be SafeMoon
15	GMX (fake)	High	1. Fake token pretending to be GMX
16	GMX (fake)	High	1. Fake token pretending to be GMX

We advise you to act with caution in general, but ask that you to take particular care when dealing with the projects we highlight as risky on our weekly update. We want you to continue enjoying our ecosystem and most importantly, stay SAFU!

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