Level Finance
Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.
anchored·ur7bCk…J6ZjSummary
Level Finance (also marketed as Level Perps) is a decentralized perpetual derivatives exchange that launched on BNB Chain in Q4 2022 and later expanded to Arbitrum. In May 2023 the protocol suffered a $1.1 million exploit caused by a logic bug in its referral reward contract that was missed by two prior security audits. The protocol's LVL token has declined approximately 99.9% from its all-time high, and as of 2025-2026 the protocol shows near-zero TVL ($32K), zero fees, and zero revenue, indicating effective dormancy.
Connected Entities
2 entities- + 3 more
Timeline(12 events)
November 2022
Level Finance begins security engagement with Obelisk Auditing for core smart contracts.
2023
Level Finance mainnet launches on BNB Chain with LVL utility token and LGO governance token.
9 January 2023
Obelisk Auditing publishes Core Contracts Audit for Level Finance.
24 January 2023
Obelisk Auditing publishes Trading Contracts Audit for Level Finance.
2 February 2023
Level Finance announces security partnership with Quantstamp.
5 April 2023
Quantstamp publishes full smart contract audit report for Level Finance.
21 April 2023
LVL token reaches all-time high of approximately $11.22.
24 April 2023
Alleged preliminary exploit attempt goes undetected approximately one week before the main attack (per Halborn post-mortem).
May 2023
Level Finance LevelReferralControllerV2 contract exploited; 214,000 LVL tokens drained and swapped for 3,345 BNB (~$1.1M). Team pauses referral program and issues public disclosure via Discord and Twitter.
2 May 2023
Multiple security firms (Halborn, PeckShield, Cyvers) publish post-mortems confirming referral logic bug. LVL token down ~50% from pre-exploit price.
26 December 2023
Scheduled first team token unlock: 25% of team allocation vests per published tokenomics schedule.
May 2026
Protocol TVL at approximately $32,880 across BNB Chain and Arbitrum. Fees and revenue at $0. Protocol assessed as effectively dormant.
Decision Log
- hash: EhBB5KDt3VRw2QVsRb8CAZRNzx6LWDTYEz2MtHqtBCP2
This investigation is cryptographically anchored to the Solana blockchain (1 event). 12 of 20 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:42 AM
last updated: 8/30/2026, 5:14:11 AM
avoid.net — verified advice for a post-truth world