Hackers of DeFi financial platform Level Finance transferred $1 million worth of BNB to Tornado Cash.
Level Finance, a decentralized (DeFi) platform based on the BNB smart chain, was hacked on May 2. According to on-chain data, hackers stole over $1 million in BNB. The hackers who moved the funds started ringing alarm bells for Level Finance. According to a social media post by blockchain security firm Peckshield, the hackers moved all the stolen funds to Tornado Cash. As of this writing, crypto assets total $1.05 million.
Uncertainty reigns supreme in Level Finance
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The company has not announced any official plans to make up for the losses. Also, it hasn’t made any progress beyond announcing a bug bounty program. Level Finance announced a program on May 10 offering rewards of up to $1 million for “critical vulnerabilities.” Additionally, Level Finance added its smart contracts to bug bounty platform Immunefi on the same day.
Level Finance previously announced that hackers had confiscated approximately 214,000 LVL tokens and exchanged them for 3,345 BNB. At the same time, the team announced that a fix would be deployed 12 hours after the attack. The Level Finance hack has left its mark on the agenda with its diversion move, causing great fear in the market.
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Level Finance Developers Transfer $1M in BNB to Tornado Cash
On May 2, Level Finance, a decentralized finance (DeFi) platform based on the BNB Smart Chain, was hacked. According to on-chain data, hackers stole more than $1 million in BNB and are currently moving the funds.
According to a tweet from blockchain security firm Peckshield, the attackers moved all of the stolen funds, 3,345 BNB, into popular cryptocurrency mixer Tornado Cash. As of this writing, assets are over $1.05 million.
Level Finance previously announced that the main service asset of the platform is 214,000 LVL tokens, and users have converted them into 3,345 BNB. The team announced that a fix would be deployed 12 hours after the attack.
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On May 10, Level Finance announced a bug bounty program offering up to $1 million for “critical bugs.” The DeFi platform added its smart contracts to bug bounty platform Immunefi on the same day.
The company has yet to announce any official plans to recover the lost coins, and has made no progress beyond announcing a bug bounty program.
Level Finance also has not yet responded to crypto.news’ request for comment.
Moreover, this is not the first time the BSC network has been attacked.
Last month, OceanLife (OLIFE) tokens were also used on the BSC blockchain, resulting in a 100% devaluation.
In January 2022, a hacker stole $80 million worth of BNB after hacking into BSC-based cryptocurrency platform Qubit Finance.
Information source: compiled by 0x information from COINKOLIK.Copyright belongs to the author, without permission, may not be reproduced