Scam Allegations Surround New Privacy Layer-2 Project Shade Network
A newly launched privacy-focused Layer-2 blockchain mission, Shade Network, has come beneath intense scrutiny following a wave of allegations from Crypto Twitter. Critics warn of potential hyperlinks to a earlier rug pull, phishing dangers, and an absence of verifiable mission fundamentals.
The controversy has escalated rapidly, prompting a number of safety warnings and public retractions from early promoters. While Shade Network has not confirmed any wrongdoing, the claims have raised critical questions on consumer security.
What Is Shade Network?
Privacy coins are the most important crypto narrative heading into 2026. And Shade Network is leveraging that hype. The mission presents itself as a privacy-first Ethereum Layer-2.
It claims to supply encrypted transaction execution, an encrypted mempool, and safety from MEV and front-running. The mission positions itself as an answer to transaction surveillance on public blockchains.
So far, Shade Network has not launched a stay community or token. Its seen progress stays restricted to a waitlist, early branding supplies, and high engagement on social media.
No testnet code, audits, or technical documentation have been publicly launched.
Rug Pull Allegations and Red Flags
The important concern facilities on alleged hyperlinks between Shade Network promoters and a earlier crypto mission accused of conducting a rug pull after elevating roughly $1.8 million.
Critics declare that individuals in that earlier mission misplaced funds by a malicious declare hyperlink that drained wallets.
In addition, a number of pockets suppliers reportedly flagged Shade Network’s web site as doubtlessly dangerous.
Such warnings often seem when phishing scripts or malicious contract interactions are detected. While false positives are potential, simultaneous flags throughout platforms considerably elevate threat.
Further scrutiny highlights the absence of ordinary disclosures. Shade Network has not printed group identities, investor info, or a public GitHub repository.
Observers additionally observe that key social media and Discord accounts had been created not too long ago, which contrasts with typical Layer-2 development timelines.
Adding to the scrutiny, a number of early promoters publicly withdrew help after conducting deeper critiques.
They cited recycled accounts, coordinated engagement, and safety warnings as causes for distancing themselves. These retractions intensified issues reasonably than easing them.
Privacy infrastructure tasks often require years of analysis, cryptographic experience, and clear improvement. In Shade Network’s case, critics argue that narrative-driven hype has outpaced technical substance.
Until impartial verification emerges, customers ought to keep away from pockets interactions and contract approvals associated to the mission.
The submit Scam Allegations Surround New Privacy Layer-2 Project Shade Network appeared first on BeInCrypto.
