zkSync DEX Merlin Reportedly Hacked for $1.82 Million Immediately After Code Audit
Decentralized exchange Merlin, which uses zkSync, has reportedly been hacked for more than $1.82 million immediately after receiving a code audit from smart-contract auditor Certik. Certik is investigating the incident, and its initial findings suggest a potential issue with private key management rather than a code exploit. The company said that while audits cannot prevent private key issues, it always highlights best practices for projects. Merlin has not yet commented on the matter. (TheBlock)
Decentralized Exchange GMX Votes to Use Chainlink Low-latency Oracles
Chainlink's low-latency oracles will integrate with the decentralized exchange GMX, following a successful governance proposal that sought to provide more real-time market data to GMX v2. The new oracles will improve upon the functionality of perpetual DEXs and price-sensitive trading on GMX, as well as strengthen security and improve user experience. The oracles utilize the same oracle node operators and data aggregation mechanisms used in existing Chainlink reference feeds, but extract data at a higher frequency. In return for the service, Chainlink will receive 1.2% of protocol fees generated by the low-latency oracles from the GMX protocol. GMX currently has a combined total value locked of $669 million on the Avalanche and Arbitrum networks. (Cointelegraph)
Crypto Protocol Fetch.ai Offering AI Trading Tools for Decentralized Exchanges
Fetch.ai, a UK-based firm that develops artificial intelligence tools for crypto, is launching a set of enhanced trading products for decentralized exchanges (DEX). The platform will use AI-powered "agents" to execute trades based on user-defined parameters and facilitate peer-to-peer transactions between decentralized finance (DeFi) users. The agents employ their own smart contracts to carry out users' instructions, reducing the risk of a central smart contract being exploited by hackers. Fetch.ai's approach aims to increase DeFi adoption by addressing security concerns surrounding DEXs, where nearly $120 million in crypto had been stolen in 2022 across 19 different breaches, according to analytics firm Crystal Blockchain.
dYdX Exchange Announces Winding Down of Canadian Operations
On April 14th at 17:00 UTC, dYdX will transition all existing Canadian users to close-only mode.
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DYdX Pushes Back $156 Million of Token Unlocks for Investors to December From February
Decentralized exchange dYdX delayed its token unlocks for investors to Dec. 1 from Feb. 3, according to a note sent out to investors obtained by The Block.