Tornado Cash Receives $1 Million Worth of BNB from Level Finance: What Does it Mean?
In Brief
The BNB Smart Chain-based DeFi platform, Finance, was hacked on May 2. The hacker stole over $1m worth of BNB. The funds are now being moved to popular crypto mixer, Tornado Cash.
On May 2, Level Finance, a BNB Smart Chain-based decentralized finance (DeFi) platform, was hacked. According to on-chain data, the hacker stole over $1 million of BNB and is now moving the funds.
The exploiter has just moved all three thousand five hundred BNB stolen from his crypto mixer to Tornado Cash, according to a tweet by Peckshield. The stolen assets are worth over $1.05 million at the time of writing.
According to Level Finance, the exploiter got roughly 214,000 LVL tokens, the platform’s main utility asset, and swapped them for 3,345 BNB. The team announced the fix would be deployed 12 hours after the hack.
Same hacks
Critical vulnerabilities are being reward on May 10 by Level Finance, for up to $1 million. On the same day, Immunefi added its smart contracts to the DeFi bug bounty platform.
The company has yet to announce any official plans to reassign the coins or progress beyond announcing a bug bounty program.
In addition, OLIFE was also sold on the BSC blockchain last month, resulting in a 100% loss in value. In January 2022, a hacker stole $80 million worth of BNB after hacking the Qubit Finance based crypto platform.
- Crypto mixer Tornado Cash was hacked on May 20 and the price of governance token TORN rose after the bad agent made a proposal to give back governance control. A user named TornadosaurusHex posted a message on the forum stating that the attacker had submitted a new proposal to restore the state of governance.
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Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.
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Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.
