April 27 (Cointime) - CertiK, a blockchain security firm, is considering a community compensation plan to reimburse approximately $2 million worth of user funds lost in a rug pull on the Merlin decentralized exchange (DEX).
Yesterday, Cointime reported that Merlin experienced a liquidity drain, with $1,823,477 having been stolen and transferred to two Ethereum addresses. Merlin had recently undergone a CertiK audit and launched a public sale on April 24.
"Initial investigations indicate that the rogue developers are based in Europe, and we are working with law enforcement to track them down." CertiK wrote in a tweet.
In addition, CertiK is offering a 20% white hat bounty to the rogue developers, hoping that they will cooperate with the investigation and return some of the stolen funds.
2/ We urge the rogue developers to accept a 20% white hat bounty. Although we raised the private key privilege issues in the audit report, we want to assist impacted users. We are determined to track down those behind this rug pull. More compensation details will be released.
— CertiK (@CertiK) April 26, 2023
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