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  • Writer's pictureMichael Paulyn

New Release by BNB Chain Acts as New Tool to Locate Fraudulent Projects and Scams

Binance, the renowned crypto exchange, has released a cutting-edge smart contract-enabled blockchain that locates crypto scams and fraudulent scams. A newly released statement by Binance, "DappBay is a DApp hub on the BNB Chain ecosystem that offers users the necessary tools to navigate the space more safely."

The statement also shares that "DappBay features an easy-to-use contract risk scanning tool, Red Alarm, which identifies potential high-risk projects to help users protect their investments from potential risks."

With that being said, DappBay also can assist investors with maximizing their investments. Furthermore, this new tool "DappBay shortlists and ranks the best recently launched projects, including Gamefi, DeFi (decentralized finance), NFT (non-fungible token), etc., based on market data."

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