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DappBay: Red Alarm dApp Risk-List (Sep. 23rd - Sep. 30th)

2022.10.1 • 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 30th September 2022 feature a high number of fake tokens pretending to be original projects including Arctic Fox Farm, Nosta Token, SnowFlake Floki, Bitcoin Cash (fake), Fantom (fake), Tether (fake), ETH (fake), Luna Classic (fake), Doge (fake), Tether USD (Fake), Luna Classic Burn (fake), and BSC-USD.

Sr. No.	dApp Name	Level of Risk	Risk Description
1	Forsage BUSD	High	1. Website access denied/banned 2. Ponzi scheme 3. Project team arrested by the SEC
2	Artic Fox Farm	High	1. The website is abandoned.
3	Nosta Token	High	1. The website doesn't work. 2. A backdoor function exists. 3. The owner has too many tokens.
4	SnowFlake Floki	High	1. The website doesn't work. 2. A backdoor function exists. 3. The owner has too many tokens.
5	Bitcoin Cash (fake)	High	1. Fake token posing as the original BCH.
6	Fantom (fake)	High	1. Fake token posing as the original Fantom.
7	Tether (fake)	High	1. Fake token posing as the original Tether.
8	ETH (fake)	High	1. Fake token posing as the original ETH.
9	Luna Classic (fake)	High	1. Fake token posing as the original Luna Classic.
10	Doge (fake)	High	1. Fake token posing as the original Doge.
11	Tether USD (fake)	High	1. Fake token posing as the original Tether.
12	Luna Classic Burn (fake)	High	1. Fake token posing as the original Luna Classic.
13	BSC-USD	High	1. Fake token posing as Binance pegged BSC-USD.

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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