Binance chain platform Red Alarm has added 50 new projects as potential scams or rug pulls, warning its users to approach them with caution.
The BNB Chain's Red Alert system flags projects based on explicit attributes that have historically been used in Scams, rug pulling, and phishing.
BNB Chain's Red Alarm feature, implemented to protect investors from potential hedging and scams, flags projects based on two main criteria: if the contract performs differently than advertised by the project owners and if the contract shows risk that May affect users' funds.
Red Alarm has identified over 50 on-chain projects that pose a significant risk to users. A mix of crypto spin-offs like Dogecoin (DOGE) and Binance and others dedicated to Panda, Web3, Safe, Tiger, Cyborg and Koalas made the list as unreliable and high-risk projects.
These are the suspicious Projects RED Flagged by RED Alarm.
- BabyDogeGas
- WEB DAO
- DRIP
- Tate Token
- BTCBullDog
- BinanceYield
- BinanceWeb 3
- BNB Yield
- BNBGrow
- BinanceCoin
List Of 70+ RED Flagged Projects
JUST IN: Binance Red Alarm platform flagged 50 projects as potential Scams#DYORspot #CryptoNews #Cryptocurency #shib #btc #eth #RedAlarm #scam #rugpullhttps://t.co/13sMsHWnpy pic.twitter.com/qvTIAUSvRi
— DYORspot (@DYORspot) August 16, 2022
