Tornado Cash Receives $1 Million Worth of BNB from Level Finance: What Does it Mean?
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.
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.
Read more related articles:
- Narwhal Finance Secures $1M in Seed Funding Led by Animoca Ventures
- Amazon ENS domain receives a $1M bid
- NFT Project Azuki Marks $1M Sale
Any data, text, or other content on this page is provided as general market information and not as investment advice. Past performance is not necessarily an indicator of future results.
The Trust Project is a worldwide group of news organizations working to establish transparency standards.