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Guavy AI Editorial Team••Sentiment: -2•Clout: 40

CodexField Cryptocurrency Project Raises Red Flags with Unusual Fund Flows

BNBMATICDAIUSDTETHTRX

A cryptocurrency project on the BNB Chain called CodexField has raised over $85 million in funds to date, but an on-chain researcher has issued a warning about potential misuse of user funds.

Specter's community security alert highlights unusual transactions in the project's fund movements, which may put user funds at risk.

The researcher identified noteworthy fund flows in wallets linked to CodexField, including a bridging of 17.3 million USDT from TRON to Ethereum and subsequent conversion to DAI on the Polygon network.

Specter noted that $6.5 million has been transferred so far, with the remaining $10.8 million still in the process of being transferred.