Keeping Scams at Bay – Efforts on BNB Chain

As crypto scams rise, BNB Chain continues to intensify efforts to protect users.

Beefing Up Security

In 2022 alone, nearly $2 billion worth of crypto has been stolen. These scammers aren’t likely to stop soon, as they’re constantly seeking new ways to make users part with their funds. Seeking to keep these scammers in check, BNB Chain has been making solid efforts to beef up security by building tools that help users identify safe projects and flag harmful ones, as well as raise alarms to educate users of suspicious attempts.

BNB Chain’s Dapp Aggregator Flags Two Scam Projects

BNB Chain’s efforts to curb scams on the network had recently intensified with its mid-July launch of DappBay, a new product with risk scanning tools. On July 25, BNB Chain revealed two projects detected by DappBay as potentially harmful to users. The new product’s risk scanning tool will come in handy for BNB Chain users, ultimately increasing their safety by flagging harmful projects.

Learn about the identified projects here.

Binance Alerts Users to Massive Phishing Scam Attempt

Crypto is an attractive hub for scammers who are constantly inventing new ways to steal assets from unsuspecting victims. Binance, however, leads the way in protecting user assets. In the year’s first quarter, Binance CEO, Changpeng Zhao, raised the alarm about an ongoing phishing scam that targeted users with a fake Binance withdrawal SMS.

Learn more here.

Overcoming a Scam, an NFT Project’s Toughest Battle

As non-fungible tokens broke out in 2021, so did scammers in the sector trying to profit off vulnerable users. From fake pop-ups to intellectual property theft, scammers are doing every bit to steal user funds. A team member of a particular victim NFT project discussed plans to revive the project.

Learn about the project and the revival plans here.

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