A decentralized application, or dApp, is an application built on a decentralized network that combines a smart contract and a frontend user interface. dApps are similar to apps you might use on your computer or phone, except they are built on and powered by decentralized protocols.

Malicious dApps

Some dApps may be deceitfully designed to appear legitimate while harboring malicious intent. Their goal is to trick users into engaging with the dApp, leading to unauthorized access and potential theft of funds.

Conduct Due Diligence!

To research dApps, their audits, and their overall security, utilize resources like our Skynet Leaderboard. 

Be cautious: Malicious dApps may falsely claim they were audited by a trusted security firm. Always verify these claims by visiting the auditor’s website directly to confirm the legitimacy of the audit.

Conduct Due Diligence - KYC

When researching dApps, smart contract audits are important, but also consider the team’s transparency. Look for public or KYC-verified teams to ensure accountability and reduce the risk of fraud.