ZachXBT: Composable Founder Linked to Some Rug Pull Projects

Odaily Planet Daily News The DeFi protocol Composable Finance released a new proposal on the Cosmos Hub Governance Forum, proposing to make Composable Chain a member of the ATOM Economic Zone (AEZ) and integrate Interchain Security (ICS) from Cosmos Hub. In return, Composable will share in the revenue. If the proposal is passed, Composable will share 20% of the IBC bridging fees across all ecosystems where Composable connects to the Cosmos Hub. Composable will also distribute 20% of PICA and LAYR staking rewards to the Cosmos Hub. In addition, Cosmos Hub validators will be able to operate relayers in the Composable ecosystem, which can capture MEV by sending order flow to order flow auctions such as MEV-share 2. In this regard, the chain detective ZachXBT issued a post on the X platform to remind the community that the founder of Composable is related to some Rug Pull projects. Multiple key team members have left the Composable/Brainjar project due to questionable practices and lack of transparency. BrainJar was also sued by the US SEC. ZachXBT also reposted previous tweets: Bribe Protocol raised $5 million in January 2022 and was incubated by Advanced Blockchain and Composable, but the project has disappeared on social media for a long time. Bribe announced the closure of the project in September 2022.