Pandas, cyborgs, dogs, koalas dominate BNB Chain Red Alarm flag list

Cointelegraph

Published Aug 15, 2022 08:51AM ET

Updated Aug 16, 2022 11:00AM ET

BNB Chain, a blockchain network created by crypto exchange Binance, has identified over 50 on-chain projects that pose a significant risk to users. A mix of crypto spin-offs resembling Dogecoin (DOGE) and Binance and others dedicated to pandas, cyborgs and koalas made the list as untrustworthy and high-risk projects.

BNB Chain’s Red Alarm (NASDAQ:ALRM) feature, implemented to protect investors from potential rug pulls and scams, flags projects based on two main criteria: if the contract performs differently from what the project owners advertised and if the contract shows risks that might influence users’ funds.

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