- DEX LeetSwap has been hacked. This was confirmed by analysts at PeckShield and BlockSec.
- The hacker emptied several liquidity pools. He withdrew a total of 340 ether.
- The platform’s administration is investigating the case.
One of the largest blockchain exchanges, Base LeetSwap, has been hacked and has suspended trading. The platform’s administration is working with analysts and experts to track down and recover 340 ether (about $630,000).
The information about the hack was confirmed by PeckShield experts. Igor Igamberdiev, an analyst at market maker Wintermute, believes the hacker exploited a vulnerability in the smart contract to artificially increase the value of X and then exchange it for WETH.
The BlockSec project team has confirmed this theory. It also published the address of the likely hacker and the account to which the ether was later transferred.
The exchange’sTVL dropped from $41.2 million to $5.03 million in just 24 hours, according to DeFiLlama:
TVL of LeetSwap
The LeetSwap hack comes amid a potential rug pull in the BALD project. The token’s exchange rate sagged by more than 90% after a large holder withdrew a significant amount of liquidity.
Experts claim that this person is Sam Bankman-Fried or one of the ex-employees of Alameda Research. As a reminder, the public version of the Base mainnet is expected in August 2023. For now, the main network is only available to developers. Meanwhile, the daily transaction volume in the ecosystem has already crossed 550,000.
At the same time, the daily transaction volume in the ecosystem has already passed 550,000.