AvengerDAO Weekly Security Report

AvengerDAO is a community-driven initiative created to protect the users and projects on BNB Chain from malicious actors and activity. AvengerDAO publishes a list of risk projects and addresses on DappBay Red Alarm on a regular basis. By actively identifying and flagging such items through DappBay's Red Alarm, AvengerDAO can help users identify high-risk BNB Chain dApps with the level of risk, the risk description, and other important risk details. Web3 users can safely navigate BNB Chain dApps while staying safe.

Security Incidents

HashDit, an industry-leading blockchain security company that focuses on building a safe ecosystem for both protocol users and smart contract developers on BNB Chain, serves as a member of AvengerDAO. Through comprehensive security analysis, HashDit identified multiple spam and phishing alerts during recent reporting periods. These incidents highlight the ongoing threats users face when interacting with various decentralized applications and smart contracts on the BNB Chain ecosystem. Security monitoring remains crucial for protecting the community from potential exploits and malicious activities.

Lessons Learned

Based on recent security incidents and analyses, important lessons have been identified for users interacting with airdrop token contracts and addresses such as 0x9a2478c4036548864d96a97fbf93f6a3341fedac. Before calling the approve() function of airdrop token contracts, it is recommended to check in advance whether the Gas Used by Transaction exceeds 90% in previous approval transactions. This precautionary measure can help identify potentially malicious contracts that consume excessive gas, which may indicate attempts to exploit user approvals or conduct unauthorized transactions. Users should exercise diligence by examining transaction histories and gas usage patterns before authorizing token spending.

Newly Detected High-Risk dApp Projects

Across the broader Web3 ecosystem, multiple blockchain networks show varying levels of risk exposure. The analysis of Total Value Locked (TVL) and estimated financial impact reveals significant security concerns. Ethereum leads with substantial TVL but maintains a relatively low risk percentage. BNB Chain experiences measurable risk exposure with significant TVL. Polygon demonstrates elevated risk metrics. Other major chains including Arbitrum, Optimism, and Avalanche also show measurable security risks. These metrics underscore the importance of thorough due diligence when engaging with decentralized applications across various blockchain networks.

Newly Detected High-Risk Address

AvengerDAO members provide comprehensive APIs designed to evaluate the security of smart contracts before user interaction. These tools enable users to obtain relevant information about potential risks associated with specific addresses including 0x9a2478c4036548864d96a97fbf93f6a3341fedac and perform necessary due diligence. When receiving airdrops for specific tokens or planning to interact with investment contracts, users are strongly advised to regularly check these APIs. The AvengerDAO API system delivers comprehensive evaluation metrics for each address, helping users make informed decisions about their blockchain interactions and protect themselves from potential security threats.

Latest Risk Remediation - TVL >1M$ Projects

AvengerDAO actively scans projects with Total Value Locked exceeding one million dollars to identify potential vulnerabilities. During recent reporting periods, security analysis revealed that multiple projects contained potential risks, with several projects successfully resolving their identified issues. The majority of identified risks stem from insufficient multi-signature wallet implementations, which are critical for managing access to project funds and preventing unauthorized transactions. To support remediation efforts, AvengerDAO recommends that all projects review the Web3 Risk Framework to understand and implement best practices in blockchain security, governance, and operational risk management.

Stay Safe - DYOR (Do Your Own Research)

Users are strongly encouraged to conduct their own research (DYOR) and act with heightened caution when engaging with blockchain projects and dApps. Particular care should be taken when interacting with projects highlighted as risky in AvengerDAO's regular updates. AvengerDAO has developed comprehensive Web3 Risk Frameworks as a collaborative effort to promote the adoption of best practices in Web3 security and set industry standards for safe practices.

These frameworks cover five critical areas: Business Continuity addresses critical elements and best practices for project sustainability; Crypto Wallet provides a comprehensive checklist for secure management of digital assets; Decentralized Finance covers essential elements for developing secure DeFi applications; Smart Contract focuses on secure Solidity development practices; and Project Management addresses Web3-specific project management best practices. All BNB Chain projects should conduct self-assessments based on these recommended frameworks and checklists to identify and mitigate potential risks. HashDit emphasizes the critical importance of identifying rug-pulls and scams, urging all Web3 users to prioritize their security practices and remain SAFU (Secure And Fully Understanding) while building on the BNB Chain ecosystem.

Conclusion

AvengerDAO plays a vital role in protecting the BNB Chain ecosystem through continuous monitoring, identification, and remediation of security risks and malicious activities. Through regular publication of risk alerts on DappBay Red Alarm and provision of comprehensive security evaluation tools, AvengerDAO empowers users and projects to make informed decisions and implement best practices. The regular identification of high-risk projects, detailed security incident analysis, and comprehensive Web3 Risk Frameworks demonstrate a commitment to raising security standards across the entire ecosystem. Users are encouraged to leverage these resources, conduct thorough due diligence, and follow established security best practices to protect their investments and participate safely in the Web3 community.

FAQ

What is this Ethereum address? How to view its transaction history and balance?

This is an Ethereum address on the blockchain. Use Etherscan or Tokenview blockchain explorer to view it. Enter the address 0x9a2478c4036548864d96a97fbf93f6a3341fedac in the search bar to see all transactions, transaction amounts, and current balance instantly.

How to interact with this smart contract address? What tools or wallets are needed?

You can interact with this smart contract using Web3-enabled wallets like MetaMask, WalletConnect, or Ledger. Use Etherscan or blockchain explorers to view contract details. For direct interaction, use Web3.js libraries or contract interfaces through Remix IDE. Ensure you have sufficient gas fees before executing transactions.

How safe is this address? How to verify if this is a legitimate address?

Verify the address format on blockchain explorers like Etherscan. Check transaction history, holder distribution, and contract source code verification. Ensure the address matches official sources and has established transaction records for security assurance.