- This is a small fraction of the $1.8 million stolen
- But CertiK will continue to monitor the movement of funds
- The company will also invest in combating exit scams
Blockchain security company CertiK revealed new details about the Merlin DEX story. So far, with the help of partners, they have frozen $160,000. of stolen funds.
Experts continue to monitor the movement of assets and will do everything they can to recover the rest.
Recall that DEX lost almost $2 million in cryptocurrency. Initially everyone thought it was an exploit.
But it turned out to be an exit scam by the back office team from Europe.
The criminal programmers created a scam token and a liquidity pool, which they used to withdraw funds from the exchange.
Merlin team tried to negotiate with ex-employees and offered to return 80% of funds. But so far it has not yielded a result.
The story adds to the scandal that CertiK conducted an audit of Merlin a couple of days before the exit scam.
Of course, the company could not have foreseen malice on the part of the workers themselves. But CertiK and Merlin took responsibility.
They will pay all losses to the affected customers. CertiK is also investing $2 million to fight exit scams.
In the future, CertiK has promised to prioritize centralization risks in its risk assessment audits.