Merlin Labs - REKT 2

Once was not enough for Merlin Labs.

After we wrote about their $680k loss, a reader pointed out that the story did not end there.

Just 8 hours after the first attack, they lost another ~200 ETH to a completely different exploit.

Transaction Details.

This is the address of the second hacker.

The second attack took advantage of a mistake in their new priceCalculator that mispriced only BAND.

credit: watchpug

~$550,000 dollars lost due to a fix that did more damage than good.

The Merlin team have outlined a compensation plan for those who lost out in the initial attack, and the one which came afterward.

When we mentioned that Merlin Labs “Must try harder”, we didn’t mean to climb up the leaderboard…

This second attack gave them another chance, but they remain in position #28.

Must try harder.

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