"$700,000 drained from BNB Chain-based DeFi protocol LaunchZone"
Primary Source ↗Incident Details
Two BNB-based defi projects have been exploited for around $700,000 each in attacks that one of the projects has claimed were perpetrated by the same group. First, an attacker siphoned more than 2,400 BNB (~$728,000) from the Dungeonswap defi project.Later, 80% of funds in the liquidity pool for the defi project LaunchZone were suddenly drained, tanking the LZ token price over 80% to $0.026 from its previous price of around $0.15. The stolen funds were priced at around $700,000.Some questioned if LaunchZone had rug-pulled. However, the project claimed that “$LZ is being hacked from [Dungeonswap] exploiter” and urged its users to “please keep calm”. They also announced that they had paused trading and transfers of the LZ token.
Total loss estimated at $1,427,900.
Technical Details
- Initial Attack Vector
- Exit scam / rug pull
- Vendor / Product
- LaunchZone and Dungeonswap
Timeline
- 2023-02-27 Breach occurred
- 2023-02-27 Publicly disclosed