ZachXBT: The founder of Composable proposed a collaboration with Cosmos related to multiple Rug Pull projects

ChainCatcher message, the DeFi protocol Composable Finance has released a new proposal on the Cosmos Hub governance forum, proposing to make Composable Chain a member of the ATOM Economic Zone (AEZ) and to integrate Inter-Chain Security (ICS) from Cosmos Hub. In return, Composable will share revenue. If the proposal passes, Composable will share 20% of the IBC bridging fees across all ecosystems connected to Composable and Cosmos Hub. Composable will also allocate 20% of the staking rewards of PICA and LAYR to Cosmos Hub. Additionally, Cosmos Hub validators will be able to operate relayers in the Composable ecosystem, capturing MEV by sending order flows to MEV-share 2 type order flow auctions.

In response, on-chain detective ZachXBT posted on the X platform to alert the community that the founder of Composable is associated with multiple Rug Pull projects. Due to suspicious practices and a lack of transparency, several key team members have left the Composable/Brainjar project, and BrainJar has also been sued by the SEC.