CertiK releases the latest developments regarding the Merlin incident on April 25.

CertiK tweeted that internal members of Merlin DEX conducted a $1.8 million Rug Pull on its users. The Merlin incident itself was an internal rug pull (exit scam) in which members with private keys maliciously exploited the privileges of the owner's wallet. Initially, CertiK tried to work with the rest of the Merlin team, but some core members rejected the authentication request. Due to the lack of cooperation from key parties, CertiK faces many challenges in identifying victims and providing assistance. Currently, CertiK is cooperating with law enforcement agencies and has provided materials and information to relevant federal agencies in the United States and the United Kingdom. CertiK will explore all possibilities to use the previously committed $2 million in funding to combat exit scams and help victims of scams. With the support and help of partners, US$160,000 in stolen funds has been frozen. CertiK will continue to monitor the flow of remaining stolen funds and do its best to freeze and recover the remaining funds.