Decentralized exchange Level Finance suffered a security breach that led to the loss of more than $1 million in its native token, LVL. The breach was caused by an attacker exploiting a bug in the “LevelReferralControllerV2” smart contract, which allowed for repeated referral claims from the same epoch. The bug was confirmed by blockchain security firm Peckshield. Level Finance has assured users that its liquidity pools and related DAOs have not been affected by the attack. The exchange stated that it would deploy a new implementation of the referral contract within 12 hours. The referral program has been temporarily shut down. The exchange’s team said users should wait for a full post-mortem report. The attacker swapped the stolen LVL tokens for 3,345 Binance Coins (BNB) worth about $1.01 million. The exploit targeted the referral controller contract, and it was isolated from other contracts.
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