Sunil, I have and would.
Primary predators are racoons and snakes. I've read that others are squirrels, possum, rats and hawks and other raptors. After the hatch, racoons, coyotes, bobcats, feral cats, snakes, bass and other large fish, hawks, owls, bullfrogs, snapping turtles, and probably others. It's really a stacked deck.
Putting more than four or five inches of nesting material (wood shavings) raises the hen too much and predators can more easily reach her.
Placing boxes under trees allows predators to approach from above.
The literature recommends putting the nesting boxes out of sight of each other to help prevent egg dumping. Since my pond is much smaller than 5,000 acres, I haven't found a way to do this without putting them under trees - another reason for the wood duck police to get you. So my boxes are about seventy feet apart and in very plain view of each other. When cleaning the boxes in late fall, I haven't found evidence of dumping. When I do, I'll have to re-locate the boxes.
Although I've never seen a racoon swimming, I suspect that they do. If they don't, they have to stick pretty close to where they were born. Here in south Louisiana, a racoon's home range would be, at most, fifty feet.