Table of Contents:

On April 26th, zkSync Ecological DEX Merlin announced that it is analyzing protocol vulnerabilities and reminding users to revoke Wallet’s access and signature permissions on their official website.

Merlin: Suggest users to revoke the two permissions of the wallet on their official website

| Section | Description |
| — | — |
| Introduction | Explanation of zkSync Ecological DEX Merlin |
| Analysis of Vulnerabilities | Overview of protocol vulnerabilities in Merlin |
| Revoking Wallet Access | Steps to revoke wallet access and signature permissions |
| Importance of Security Measures | Reasons why users should take security measures to protect their DEX accounts |
| Conclusion | Recap of protocol vulnerabilities and the significance of taking security measures |
# On April 26th, zkSync Ecological DEX Merlin Announces Protocol Vulnerabilities and Reminds Users to Revoke Wallet Access

Introduction

Merlin is a decentralized exchange (DEX) that runs on the zkSync Layer 2 scaling solution for Ethereum. zkSync is a scaling solution that enables fast and inexpensive transactions while reducing gas fees. Merlin is a new DEX that has been widely adopted by Ethereum users because of its fast speed, low cost, and high security. In this article, we will discuss an announcement made by Merlin on April 26th. Merlin announced that it is examining protocol vulnerabilities and urging users to revoke their wallets’ access and signature permissions on their official website.

Analysis of Vulnerabilities

Merlin conducted an investigation of its protocols and discovered several vulnerabilities. In a blog post on its official website, the team detailed the vulnerabilities that were discovered. Fortunately, no user funds were compromised. Merlin acknowledged that the vulnerabilities could have potentially led to reentrancy vulnerabilities in its smart contract. This risk was a result of a suboptimal system architecture of the platform that makes it vulnerable to reentrancy attacks.
The team also highlighted that an additional vulnerability was found in Merlin’s smart contract for issuing rewards. They discovered that there was a loophole in the smart contract, which made it possible for an attacker to drain the entirety of the rewards pool. Merlin’s developers identified the vulnerability and are working on a patch to fix it.

Revoking Wallet Access

Merlin advised users to take action to ensure their accounts’ security by revoking their wallet’s access and signature permissions on the Merlin official website. The process to revoke these permissions is straightforward. Users can go to the Merlin official website, log in to their account, and revoke permissions. By doing this, they eliminate the possibility of malwares or bad actors making changes to their accounts.
Users can revoke the permissions anywhere they have access to the internet around the world, including via mobile phones, laptops, or desktop computers. If a user has multiple wallets, then they need to revoke each wallet’s access and signature permissions separately.

Importance of Security Measures

It is essential to note that DEXs are often the target of hackers as they provide a gateway to access user’s funds. The recent vulnerabilities discovered in Merlin highlight the importance of taking security measures when using DEXs. Taking the security measures recommended by Merlin will lower the chances of bad actors gaining access to your funds.
Users should also ensure to store their tokens in secure wallets that protect them against hacking attempts. They should employ the use of strong passwords and 2-factor authentication for a more secure account. Also, users should keep their private keys safe, and not share them with anyone.

Conclusion

In summary, Merlin’s announcement concerning the vulnerabilities found suggests the importance of taking security measures when accessing DEXs. Merlin urged its users to take preventative action by revoking their wallet access and signature permissions on the official website. As a DEX user, taking the necessary security measures could save your crypto assets from being stolen.

FAQs

1. How can I revoke my wallet’s access and signature permissions on Merlin’s website?
=> Go to the Merlin website, log into your account, and revoke each wallet’s permission separately.
2. What is a DEX, and how is it different from a centralized exchange?
=> A DEX is a decentralized exchange where users trade cryptocurrencies through a peer-to-peer network, while a centralized exchange is a platform operated by a company that serves as an intermediary for trading crypto.
3. Can I ensure that my tokens will never be stolen?
=> Although no method is 100% full-proof, taking appropriate security measures can significantly lower the risk of losing your funds.