PeckShield, a blockchain security company, released an alert stating that Freedom Protocol and Raccoon Network, two major crypto protocols, are scams. Moreover, they revealed that the scammers have already transferred about 20 million $BUSD to another address.
Freedom Protocol claims to provide a financial asset with the highest fixed APY. It can offer an APY of as much as 183,395.2%. Raccoon Network is a meta verse company that monetizes its data. However, PeckShield has now claimed that both these companies are scams.
What The Data Shows
PeckShield provided two addresses that it claims are of Raccoon Network and Freedom Protocol. BscScan, a product that reveals on-chain data on the BINANCE blockchain also tracks both addresses as Raccoon and Freedom.
PeckShield reveals that both the addresses have moved about 20 million BUSD to another address. The address the deposit is made to shows over 20 million BSC-USD. The total worth of the account is close to 21 million USD.
Both Raccoon Network and Freedom Protocol have yet to comment on the allegations.
