Merlin, a ZkSync-Based DEX, Reports $1M in Losses During Public Token Sale Despite Audit
altcoins.substack.com
Merlin, a decentralized exchange (DEX) built on the layer-2 scaling solution zkSync, was drained of $1 million during its public token sale, despite the exchange passing an audit by cybersecurity firm Hacken. The exchange had been conducting a public sale of its native token, MERL, when the attack took place. According to a statement from the Merlin team, the attacker exploited a vulnerability in the contract for the MERL token, allowing them to mint and sell a large number of tokens for a minimal cost. The team claims that the attack was the result of a "complex and sophisticated" exploit that took advantage of a combination of vulnerabilities in the contract.
Merlin, a ZkSync-Based DEX, Reports $1M in Losses During Public Token Sale Despite Audit
Merlin, a ZkSync-Based DEX, Reports $1M in…
Merlin, a ZkSync-Based DEX, Reports $1M in Losses During Public Token Sale Despite Audit
Merlin, a decentralized exchange (DEX) built on the layer-2 scaling solution zkSync, was drained of $1 million during its public token sale, despite the exchange passing an audit by cybersecurity firm Hacken. The exchange had been conducting a public sale of its native token, MERL, when the attack took place. According to a statement from the Merlin team, the attacker exploited a vulnerability in the contract for the MERL token, allowing them to mint and sell a large number of tokens for a minimal cost. The team claims that the attack was the result of a "complex and sophisticated" exploit that took advantage of a combination of vulnerabilities in the contract.