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LeetSwap Halts Trading After $630K Drained From Liquidity Pairs

LeetSwap says it is working with on-chain security experts to recover 340 ether (ETH) drained from its liquidity provider (LP) pairs. A tweet from PeckShield shows that the exchange, running on Coinbase’s Layer 2 blockchain Base, has been attacked. “As our DEX is forked from Solidly, our factory had a security pause function,” LeetSwap tweeted. Data from DeFiLlama shows that the DEX peaked at a total value locked (TVL) of $41.2 million on July 31, which has since declined to $7 million as of August 1. This comes after BALD, a memecoin running on Base, rugpulled its users as the token's deployer removed millions of dollars worth of liquidity.


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