Two BNB-based projects attacked for around $700,000 each

<img src="https://storage.googleapis.com/primary-web3/entryImages/logos/resized/launch-zone_300.webp" alt="A white circle with a green border with two symbols in green, followed by “LaunchZone” in green gradient capitals” width=”300px”>

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.

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  “$700,000 drained from BNB Chain-based DeFi protocol LaunchZone”
  , Cointelegraph
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  Tweet thread by MetaSleuth