CertiK, a blockchain security platform, has announced an AMA session for Shiba Inu, a canine-themed cryptocurrency, following reports of its security score downgrade. The session, titled “Shibarium Layer 2, Tokenomics, Security, and More,” is scheduled for today at 1 PM (UTC) and will take place on the official CertiK Discord channel. During the AMA, CertiK intends to share significant updates regarding Shiba Inu, including its current security status. The Shiba Inu community has shown enthusiasm toward the upcoming AMA, hoping to gain valuable insights and clarification regarding the factors that led to Shiba Inu’s downgrade from its esteemed AAA status.

Decentralized exchange Swaprum on Arbitrum blockchain lost $3 million in a theft by its developers, who laundered the funds through privacy protocol Tornado Cash. The protocol was audited by CertiK, which has recently been criticized for failing to identify potential rug-pull risks. Smart contract auditing alone does not mitigate such risks and the industry needs an infrastructure layer that consolidates all relevant security information on every project, said Dyma Budorin, CEO of blockchain security firm Hacken. Swaprum is the latest in a series of Certik-audited protocols to lose funds due to critical vulnerabilities.

As the popularity of the PEPE memecoin grows, scammers have started to take advantage of the hype, resulting in multiple scam attempts in the crypto space. PeckShield, a blockchain security firm, has reported at least ten meme coin scams created in the last three days alone, with scam tokens having their liquidity removed and investors being scammed.

May 5 (Cointime) - CertiK has provided an update on the Merlin DEX incident that occurred on April 25th. The incident involved an internal rug pull by Merlin insiders, who took $1.8M of their users' funds by abusing the owner's wallet privileges.  

Merlin DEX had recently undergone a CertiK audit and launched a public sale on April 24.

Blockchain security firm CertiK has frozen $160,000 worth of digital assets that were stolen from the decentralized exchange (DEX) Merlin. The stolen funds were reportedly transferred to a wallet that was identified as a high-risk address by CertiK's security protocols, triggering an automatic freeze of the assets.

According to the blockchain and smart contract security firm Certified Kernel Tech (better known as CertiK), crypto-related exploits, hacks, and scams in April resulted in losses worth $103 million.

Merlin, a decentralized exchange based on zkSync, plans to compensate users impacted in a nearly $2 million rugpull with blockchain audit firm CertiK. A rug pull is a type of exit scam in which the perpetrators create a new token, launch a liquidity pool for it, and pair it with a base token. Merlin was exploited for over $1.8 million on Wednesday during a public sale of its mage (MAGE) tokens. The attack was conducted by a rogue developer who held private keys to Merlin’s smart contracts, allowing them to withdraw all liquidity from the protocol. CertiK is investigating and plans to initiate a compensation plan to cover the lost funds for affected users, and will collaborate with law enforcement authorities to track down the rogue developers if direct negotiation is unsuccessful.

CertiK is offering a 20% white hat bounty to the rogue developers, hoping that they will return some of the stolen funds.

Smart contract auditor CertiK has offered Merlin DEX rogue developers a white hat bounty of 20%.