The hacker of DeFi finance platform Level Finance moved $1 million worth of BNB to Tornado Cash.
Level Finance, a BNB Smart Chain-based decentralized (DeFi) platform, was hacked on May 2. According to on-chain data, the hacker stole over $1 million in BNB. The hacker, who mobilized the funds, started to ring the alarm bells for Level Finance. According to a social media post from blockchain security firm Peckshield, the hacker moved all the stolen funds to Tornado Cash. Crypto assets amount to $1.05 million as of writing.
Uncertainty Dominates in Level Finance
The company has not announced any official plans to recover its losses. Additionally, it has not made any progress other than announcing a bug bounty program. Level Finance announced a program on May 10 that awards up to $1 million for “critical vulnerabilities.” In addition, Level Finance added its smart contracts to the bug bounty platform Immunefi on the same day.
Level Finance previously announced that the hacker had seized around 214,000 LVL tokens and exchanged them for 3,345 BNB. At the same time, the team announced that the fix will be deployed 12 hours after the attack. The Level Finance hacker, which left its mark on the agenda with its transfer movements, created a great fear in the market.
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Level Finance exploiter moves $1M BNB to Tornado Cash
Level Finance, a decentralized finance (DeFi) platform based on BNB Smart Chain, was hacked on May 2. According to on-chain data, the hacker stole over $1 million in BNB and is now moving the funds.
According to a tweet from blockchain security firm Peckshield, the exploiter moved all the stolen funds, 3,345 BNB into popular crypto mixer Tornado Cash. Assets are over $1.05 million at the time of writing.
Level Finance previously announced that the exploiter had seized approximately 214,000 LVL tokens, the platform’s main service asset, and exchanged them for 3,345 BNB. The team announced that the fix will be deployed 12 hours after the attack.
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On May 10, Level Finance announced a bug bounty program that awards up to $1 million for “critical vulnerabilities.” The DeFi platform added its smart contracts to the bug bounty platform Immunefi on the same day.
The company has not announced any official plans to recover the lost coins and has not made any progress other than announcing a bug bounty program.
Level Finance has also not yet responded to crypto.news’ request for comment.
Moreover, this is not the first attack on the BSC network.
Last month, the OceanLife (OLIFE) token was also used on the BSC blockchain, resulting in a 100% depreciation.
In January 2022, a hacker stole $80 million worth of BNB after hacking the BSC-based crypto platform Qubit Finance.
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