Home Press Release CertiK freezes $160k from stolen Merlin DEX funds

CertiK freezes $160k from stolen Merlin DEX funds

0 comment

Blockchain security firm CertiK says it has successfully frozen $1.8 million to $160,000 stolen by rogue developers of Merlin DEX.

Twitter on May 4th thread, CertiK reiterated that Merlin was yanked by an insider. Efforts to work with other team members on the project have proven futile, according to the company.

CertiK said this lack of cooperation affected its efforts to help victims of the exploit. However, it says it is working with law enforcement to catch the hackers.

A smart contract auditor added that it has put $2 million into the fight against exit fraud.

On April 25th, a zkSync-based decentralized exchange was exploited just days after going public. At the time, CertiK noted in its audit that the project had a “concentration risk.”

In a recent statement, CertiK admitted that it did not do enough to properly highlight this risk. it wrote:

“While the report pointed out the risks of centralization, the impact of these findings was not as clear as it should have been. had to be emphasized.”

To prevent a recurrence, it says it “prioritizes concentration risks in audit summaries so that users have a complete picture of potential risks.”

The post where CertiK freezes $160,000 from stolen Merlin DEX funds first appeared on CryptoSlate.

index (2)

About Us

Coingeography is a principal independent digital media resource with a coverage of comprehensive news on Crypto assets, NFT, Metaverse and the surging Web 3 space. We here deliver the most authentic and precise news from the arena of the Web 3 space and crypto assets. 

Feature Posts

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Copyright ©️ All rights reserved. | CoinGeography – Powered by Corum8