BNB Chain Adds 191 High-risk dApps To The DappBay List

Key Points:

• BNB Chain has updated the list of high-risk dApp projects that are on red alert on DappBay. This includes Pinaki, Elvantis, Leech Protocol, Streamflow, OnlyBrain, and the XOP Project, among others.
• The 191 new projects on BNB Chain that have been added to the list have either been suspected of releasing false tokens, having excessive or opaque tax rates, or have simply had their websites or Twitter accounts added to the list because they are inoperable. 

BNB Chain has stated that it has updated the list of high-risk decentralized applications (dApps) that it maintains on the DappBay platform, whichhas a total of 191 projects that have been designated as high-risk.

Pinaki, Elvantis, Leech Protocol, Streamflow, OnlyBrain, and the XOP Project are just some of the projects that are featured on this week’s revised list. These projects have been identified by BNB Chain as being high-risk for a number of different reasons. Some of the reasons include what is believed to be the issuance of bogus tokens, taxes that are either too expensive or too opaque, and websites or Twitter handles that do not function properly.

BNB Chain has made it clear that the active alert that BNB Chain issues does not reflect the danger posed by the underlying DApp project in any way. Instead, it is intended to assist consumers in conducting research prior to making any decisions regarding investments. This indicates that customers should proceed with caution when making investments in any of the dApps that are included on the list.

Users have been urged by BNB Chain to conduct exhaustive study on any project before investing in it and to seek the advice of a financial professional before making any decisions regarding investments. In addition, BNB Chain has cautioned consumers to be aware of the dangers associated with investing in decentralized applications (dApps), particularly those that have been identified as high-risk.

This most recent update from BNB Chain highlights how important it is to conduct in-depth research before investing in any project, but notably those in the decentralized application (dApp) market. Because the cryptocurrency market is expected to continue expanding and diversifying in the next years, it is critical for consumers to maintain a high level of vigilance and information in order to make educated decisions regarding their investments.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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