Scam Allegations Surround New Privacy Layer-2 Project Shade Network

Shade Network, a recently launched privacy-focused Ethereum Layer-2 project promising encrypted execution and MEV protection, is under heavy criticism on Crypto Twitter. Allegations suggest that its promoters are linked to a previous project that allegedly conducted a $1.8 million rug pull via a malicious claim link that drained user wallets. Red flags cited by critics include multiple wallet providers flagging the website for potential phishing scripts, a complete lack of public technical documentation, audits, or a GitHub repository, and recently created social media accounts. Although Shade Network claims resistance is expected due to privacy focus and promises a full roadmap reveal, several early promoters have publicly withdrawn support, intensifying user safety concerns. Experts advise extreme caution until verifiable technical substance and team transparency emerge.

(Source：BeInCrypto)