The DappBay app identifies NBB Chain projects that may be scams and also offers a smart contract scanner. Currently, DappBay has scanned over 3,300 smart contracts and alerts on 70 questionable projects
DappBay helps identify scams on the NBB chain
While the app was launched last July, the NBB Chain teams are looking back this week at the first figures for DappBay. This platform lists the various decentralised applications (dApps) of the BNB Chain, but beyond that, it is also a utility that helps users identify potential scams they are confronted with on this blockchain.
Thus, DappBay has two main functionalities: a smart contract scanner and a “red list” of questionable projects. To date, the NBB Chain has more than 1,300 dApps, 163 million unique addresses and has seen more than 3.3 billion transactions since its creation. These are all factors that are conducive to the encounter of malicious actors. Moreover, its low transaction costs compared to Ethereum (ETH) have provided fertile ground for scams in 2021.
At the time of writing, the Red Alarm menu lists 70 projects that are considered risky. These often have similar features such as animal names, the keyword “Baby” or confusing names that suggest some link to Binance.
Figure 1: Example of a potential scam identified by DappBay
In the example above, DappBay warns that the “BabyDogeGas” smart contract poses a risk to the integrity of users’ funds. Note that the app still links to the “project’s” Twitter and website, albeit with a warning.
An integrated smart contract scanner
In addition to its directory of potential scams, DappBay allows you to scan the NBB Chain’s smart contracts through its “Risk Scanner” tab. This is a feature that will be particularly useful if there is any doubt and has already scanned over 3,300 smart contracts.
For example, it is particularly common on the NBB Chain to receive fraudulent tokens, which can siphon off our funds when we try to interact with them. Take the example below with the token named ABFIN.org (ABFIN).
Figure 2: Example of fraudulent tokens on a NBB Chain address
By copying and pasting the hash of its smart contract into the Risk Scanner module, we are warned that the code has not been verified and that there is therefore a high degree of risk in trying to interact with it:
Figure 3: Result of a scan of a smart contract on DappBay
Obviously, DappBay can never replace a real in-depth analysis of a project. It should also be noted that this application only works on the NBB Chain. However, it can constitute an additional tool during our research and to help us to direct our judgement when we have a doubt on a token or a project.
