On May 2, Level Finance, a decentralized finance (DeFi) platform based on the BNB Smart Chain, was compromised. On-chain data indicates that the hacker has taken more than $1 million in BNB and is currently moving the fund.
Level Finance Exploiter Transferred $1 Million in Stolen Funds
A tweet from the blockchain security company Peckshield claims that the exploiter has just transferred the entire 3,345 BNB worth of stolen funds to Tornado Cash, a well-known cryptocurrency mixer.
About Hacking
The platform’s primary utility asset, the LVL tokens, was obtained by the exploiter and exchanged for 3,345 BNB, according to a prior announcement from Level Finance. According to the team, the remedy will be implemented 12 hours after the hack.
Level Finance Announces Bug Bounty Program
A bug bounty program with up to $1 million in prizes “for critical vulnerabilities” was introduced by Level Finance on May 10. On the same day, the DeFi platform linked its smart contracts to Immunefi, a site for bug bounties.
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