- This is a small part of the $1.8 million stolen
- But CertiK will continue to monitor the movement of funds
- The company will also invest in the fight against exit scams.
Blockchain security company CertiK has revealed new details of the Merlin DEX story. So far, with the help of partners, they have frozen $160,000 in stolen funds. Experts continue to monitor the movement of assets and will do everything to return the rest.
Recall that DEX lost almost $2 million in cryptocurrency. Initially, everyone thought of an exploit. But it turned out to be an exit scam by the European back office team. The criminal programmers created a scam token and a liquidity pool, due to which they withdrew exchange funds. The Merlin team tried to negotiate with ex-employees and offered to return 80% of the funds. But so far it hasn’t worked.
Adding to the scandal is the fact that a couple of days before the exit scam, CertiK audited Merlin. Of course, the company could not foresee malicious intent on the part of the employees themselves. But CertiK and Merlin took over. They will pay all losses to affected customers. CertiK is also investing $2 million in the fight against exit scams.
Going forward, CertiK has pledged to prioritize the risks of centralization in risk assessments in its audits.
Recall that recently another WSB Coin project suffered from an exit scam.