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Merlin DEX Attacker Transfers Ethereum Worth $120,000 to FixedFloat

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According to reports, according to Paidun\’s disclosure of on chain data, an address marked as a Merlin DEX attacker has transferred 63 Eth to FixedFloat, worth approximately $12000

Merlin DEX Attacker Transfers Ethereum Worth $120,000 to FixedFloat

According to reports, according to Paidun’s disclosure of on chain data, an address marked as a Merlin DEX attacker has transferred 63 Eth to FixedFloat, worth approximately $120000. Previously, it was reported that zkSync Ecological DEX Merlin was attacked by hackers, affecting funds exceeding 1.82 million US dollars.

Paidun: Merlin attacker transferred 63 ETH into FixedFloat

The recent disclosure of on-chain data by Paidun has revealed that an address marked as a Merlin DEX attacker has transferred 63 Eth to FixedFloat, worth approximately $120,000. This transfer of funds comes after the news of a hack on the zkSync ecological DEX Merlin, which resulted in a loss of funds exceeding 1.82 million US dollars.

Background on the Merlin DEX Attack

In recent weeks, the Zion Finance team disclosed that they had been the victims of an attack on their zkSync ecological DEX Merlin. The team discovered that the attack was due to a vulnerability in the zkSync protocol, which allowed hackers to steal funds from user wallets. According to the team, the amount stolen exceeded 1.82 million US dollars.
Soon after the report went public, Merlin issued a statement confirming the hack and assuring users that the team had taken all necessary measures to prevent future attacks. However, in the weeks that followed, the team continued to observe suspicious activity on the Merlin network, leading them to believe that the attackers had not stopped.

The Latest Update: Transfer of Ethereum to FixedFloat

The latest disclosure by Paidun shows that an address marked as a Merlin DEX attacker has transferred 63 Eth to FixedFloat, indicating that the hackers are still active. FixedFloat is a non-custodial instant cryptocurrency exchange that allows users to swap between cryptocurrencies without the need for an account.
This latest development has further emphasized the need for users to exercise caution when trading on decentralized exchanges. Despite the growing popularity of DEXs, they remain at risk of hacks and attacks due to the lack of centralized control.

What This Means for Investors

The recent attack on the Merlin DEX and the transfer of funds to FixedFloat highlights the need for investors to pay close attention to the security and stability of the platforms they use. It is crucial to remember that the decentralized nature of DEXs means that users bear full responsibility for the security of their wallets and funds.
Investors should take extra precautions, such as enabling two-factor authentication, using reputable wallets, and reviewing the smart contract code for any potential vulnerabilities. It is also important to diversify assets across different platforms to mitigate the risk of total loss.
In conclusion, the transfer of Ethereum to FixedFloat by the Merlin DEX attacker serves as a reminder that DEXs continue to face threats from hackers. Users must take the necessary precautions to protect their wallets and funds. As the popularity of DEXs grows, the industry must prioritize security measures to ensure the safety and stability of the crypto ecosystem.

FAQs:

1. What measures has the Merlin team taken to prevent future attacks?
The Merlin team has issued a statement confirming the hack and assuring users that they have taken all necessary measures to prevent future attacks.
2. How can users protect their wallets and funds when trading on DEXs?
Users should enable two-factor authentication, use reputable wallets, review the smart contract code, and diversify assets across different platforms to minimize the risk of total loss.
3. What does the transfer of Ethereum to FixedFloat mean for investors?
The transfer indicates that DEXs continue to face threats from hackers, and users must take extra precautions to ensure the security of their wallets and funds. The growing popularity of DEXs emphasizes the need for the industry to prioritize security measures.

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