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A newly launched layer 2 privacy blockchain project, the Shed Network, has faced intense scrutiny following a wave of allegations from Twitter’s crypto community. Critics have warned of potential links to previous tapes, phishing risks and a lack of verifiable legitimate foundations.
The controversy quickly escalated, prompting several safety warnings and public retractions from some early promoters. Although the Shedd network has not confirmed any wrongdoing, the allegations have raised serious questions about user security.
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What is the SHD network?
Accounts privacy coins bigger List of digital currencies As we approach the year 2026. The SHD Network is capitalizing on this momentum. The project presents itself as a second layer of privacy for Ethereum.
The project claims to provide encrypted transaction execution, encrypted transaction memory, and protection from exploiting MEV and “frontrunning”. The project presents itself as a solution for monitoring transactions in public blockchains.
To date, the SHD network has not launched a live network or cryptocurrency. The project’s apparent progress remains limited to a waiting list, some initial marketing materials, and high social media engagement.
No test code, audit, or technical documentation has been released publicly.
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Fraudulent withdrawal claims and red flags
The main concern centers around the alleged links between the promoters of the SHADE network and a previous cryptocurrency project that was accused of running. Pull the rug After raising about $1.8 million.
Detractors reported that participants in that previous project lost money due to a malicious claim link that stole the contents of their wallets.
Additionally, several wallet providers have reported the Shed Network website as a potentially malicious site.
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Such warnings usually appear when Phishing software or malicious contract interactions. Although false positives are possible, simultaneous signals on multiple platforms increase the risk significantly.
Additional reviews highlight the absence of standard disclosures. Shed Network has not made the team’s identity, investor information, or public GitHub repository.
Observers have noted that the main accounts on social media and the Discord have been created again, which conflicts with the usual development schedules of the projects. Second layer For Ethereum.
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Adding to the scrutiny is that many early promoters have publicly withdrawn their support after deeper reviews.
They cited recycled accounts, coordinated interactions and security warnings as reasons to stay away. These withdrawals have increased concerns rather than alleviated them.
Privacy infrastructure projects usually require years of research, cryptographic expertise and transparent development. In the case of the SHD network, critics argue that the narrative-driven hype has outweighed the proper technical aspect.
Expect an independent review to appear, and users should avoid interaction with portfolios and contract approval processes related to the project.
