Solana privacy application SHDW faces fund freeze controversy before UTC time release

According to the latest report by PANews, the privacy application SHDW based on the Solana blockchain has recently fallen into a risk vortex. Many users have reported being unable to withdraw funds after deposits and being unable to contact the customer service team, raising community concerns. The application was originally scheduled to launch its token issuance at UTC 20:00 but exposed serious technical vulnerabilities and operational issues at a critical moment.

Privacy Transaction Promises Encounter Difficulties Core Functionality Fails

SHDW focuses on privacy transaction solutions that prevent front-running through the Jupiter aggregator, attracting significant community attention and promotion. However, the “Unblock” button within the app is currently paralyzed, resulting in funds of early participants being locked indefinitely. According to Cryptopolitan, this functional flaw directly impacts users’ full control over their funds.

Hackathon Project Background and Planning Gaps

As a product of the Solana Privacy Hackathon, SHDW has been widely promoted on social media during the testing phase. The team promises future features such as X402 standard transactions, market prediction, and data filtering, but currently only deploys basic Swap transactions and wallet browser extension modules. The gap between these features and the promotional claims has left its privacy protection level and transaction security unverified by third parties to date.

Users Should Exercise Caution

When participating in emerging privacy applications, users need to pay special attention, especially to thoroughly understand the project’s security audits and team background before investing funds. The SHDW case serves as a reminder to the community that even projects launched within well-known blockchain ecosystems pose risks that need to be guarded against before key moments like UTC time. Investors are advised to carefully evaluate the project’s maturity and security certification status.