BNB Chain Launches New Tool To Help Users Detect Malicious Projects and Scams

Developed by crypto exchange giant Binance, the smart contract-enabled blockchain is launching new tools to help users detect crypto fraud.

According to the new company’s blog post, the BNB chain (BNB) Start-up DappBay, Decentralized Application (DApp) Hub Red alarmA new blockchain scanning tool aimed at detecting cryptographic projects at high risk of fraud.

DappBay is a DApphub on the BNB chain ecosystem that provides users with the tools they need to navigate their spaces more securely. DappBay features Red Alarm, an easy-to-use contract risk scanning tool. This helps identify potential high-risk projects and protect your investment from potential risks. “

DappBay also ranks recently launched digital asset projects based on market data, helping traders maximize their investment.

DappBay ranks the best recently launched projects, such as Gamefi, DeFi (Distributed Finance) and NFT (Non-Fungible Tokens), on a candidate list based on market data.

With the Fastest User Growth, Best Performance Tokens, and Trends rankings, you can easily find the latest and most popular projects and quickly seize investment opportunities. ”

Gwendolyn Regina, investment director of the BNB chain, states that the purpose of security tools is to help traders stay one step ahead of scammers and protect their investments.

Using market data, DappBay allows the BNB chain community to create and rank candidate lists for recently launched projects such as Gamefi, Defi, and NFT.

Most importantly, the Red Alarm feature helps users stay one step ahead of scammers. The system alerts you to potential risks associated with your project in real time, enabling the community to make informed investment decisions.

This is a breakthrough not only for the BNB chain community, but for the entire blockchain community as well. “

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Featured image: Shutterstock / WWWoronin