WLEO price plummeted by 99%, making the token essentially worthless because of the $ 42.000 attack

Uniswap was hacked again by hackers, as evidenced by the fact that the WLEO contract was stolen a total of $ 42,000 when the hackers created WLEO for themselves and swapping it for Ethereum.

A hacker has stolen approximately $ 42,000 worth of WLEO contract

Khaleel Kazi, the founder of the LEO Finance community, stated:

“From what I keep hearing, this has happened to many other pools on Uniswap. The token issuing contract/address gets exposed, and when someone takes advantage of it to mint infinite tokens and rug, pull the Uniswap pool to steal the Ethereum.”

WLEO prices have dropped dramatically since the hack. At press time, WLEO is trading at around $ 0.00013367, 99% in the past 24 hours.

wleo-price-plummeted-by-99

WLEO price | Source: CoinGecko

When the attack took place, WLEO users quickly noticed the wrong transactions were happening and responded by quickly removing the group’s liquidity, limiting the profits that hackers could enjoy. Since then, the hacker, whose address is known, has reportedly transferred the Ethereum to Binance using anonymous accounts, making it almost impossible to trace the stolen funds.

Kazi added:

“Binance has been contacted, but there may be nothing they can do since the hacker seems to have used non-KYC’d accounts to receive the ETH.”

It is still unclear how this hacker was able to perform the attack. According to Kazi, the exploited vulnerability does not appear to be from the WLEO oracle, allowing Blockchain to interact with the real world or off-chain data.

He said:

“This narrows it down to just a few possibilities for how they exposed the wLEO contract. We’ll release more details as we continue to investigate and narrow it down further.”

This is not the first time hackers have hit Uniswap. In April of this year, hackers reportedly stole between $300,000 and $1.1 million from the exchange. The hackers accidentally leaked their IP addresses during that attack, and so had to return the funds. But that hasn’t stopped them—or other ones—from targeting Uniswap yet again.

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