The "Earth-TRN562" used on this page is an unofficial Temporary Reality Number that was assigned by our wiki until an official designation is provided by Marvel.
History
Elektra created Code Red with the intent of defeating the demon that powered the Hand ninjas, and with that, help the Avengers Academy students defeat them.
When the team went to battle the demon they found out that Elektra was actually doing this for selfish reasons, and she was only after something the demon had, the demon injured most of the team, and then escaped. The team was dismantled after this.[1]