DappBay’s Red Alarm Feature Flags Further Potential Risks

Red Alarm security platform assesses project risk levels in real time and alerts users of potentially risky Web3 dApps.

BNB Chain has been working tirelessly to ensure a safer user experience in its ecosystem. With over 3,300 contracts scanned in just the last few weeks, DappBay’s ‘Red Alarm’ is moving through a considerable number of projects to ensure that users are offered effective guidance.

You are now able to access the DappBay website and access ‘Red Alarm’ to look over more than 50 projects that have been underlined as harboring significant risk. We urge users to act on this guidance and operate accordingly.

DappBay’s Arrival

Web3 dApp hub, DappBay, was launched in July with the intention of allowing users to access industry leading research when making decisions on which dApps to interact with.

With over 1,300 active dApps from various innovative categories currently operating on BNB Chain, it can be difficult to discern the safest options. The dedicated and enthusiastic user base that has given rise to over 3.3 billion transactions to date from 163 million unique addresses, requires guidance and help and DappBay registers BNB Chain’s determination to help.

Even with the present initiatives that will benefit user safety, we cannot reiterate enough how important it is to DYOR.

This may seem a simple response but in most cases it is indeed the most effective. We are trying to exhaust every avenue possible to help notify users of projects that represent risk and this is an ongoing effort.

As a decentralized chain we recognize the challenges that lay ahead but we are confident in the belief that as a community we can overcome these efforts from bad actors in the space.

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