The Level Finance decentralized perpetual exchange was exploited after an attacker discovered a vulnerability in one of the project’s smart contracts. They were able to drain 214,000 LVL tokens, which they swapped to 3,345 BNB ($1.1 million). The contract had been audited by Obelisk and Quantstamp, but neither firm apparently discovered the vulnerability.The attack caused the LVL token to drop substantially in price, plunging from around $9.00 to as low as $4.20 before recovering to around $7 — a loss of 22%.

Total loss estimated at $1,100,000.