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FollowingOn-chain researcher Specter issued a community security alert about the CodexField project running on BNB Chain. The alert pointed out that abnormal transactions have been detected in the fund flow of the project, posing a risk that user funds will be abused.
According to online tracking data, the CodexField project has raised more than US$85 million in funding so far. During yesterday\'s analysis, Specter found noteworthy financial flows in wallets associated with the project. 
According to the researcher, the relevant wallet will cross-link 17.3 million USDT from the TRON network to Ethereum. These funds are then exchanged for DAI on the Polygon network. It is reported that US$6.5 million has been transferred, and the remaining US$10.8 million is still in the process of transfer.
It is reported that these funds were linked from Ethereum to TRON about six months ago, and the source wallet was related to deposit contracts associated with CodexField.
The alert also lists other suspicious aspects of the project. It noted that CodexField requires users to deposit at least $100 to participate. Blockchain security tool Blocksec MetaSuites labeled the deposit contract as a \"fake CodexField,\" but further investigation by Specter revealed that the contract was actually operated by the CodexField team.
According to research, the project uses multiple domain names and sub-domain names to attract user investment. In addition, the team also shared these domain names with the public through official channels.
Specter highlighted the unusual flow of funds for the project. According to researchers, funds are not held in accordance with traditional fund pools or fund management models, but are transferred between multiple chains through cross-chain bridges, pass through intermediate wallets, and finally flow to a centralized exchange.
An online researcher said that users interacting with CodexField should remain highly vigilant until the team provides a transparent explanation of its funding movements. Specter pointed out that current on-chain activity suggests a \"high degree of caution\" towards the project.
* This is not investment advice.
