Merlin

Merlin Chain, a Bitcoin Layer 2 platform, has surpassed $1.2 billion in TVL and $16 billion in bridge transactions, becoming

Merlin Chain, the native Bitcoin Layer2, announced a round of funding from 24 investors including OKX Ventures, ABCDE, Foresight Ventures

CertiK audited a project which later rugged user funds for $2 million. The firm denies responsibility for the incident.

Some evidence points to private key mismanagement as the cause for the incident.