Exploit Concerns Force LeetSwap, Base’s Biggest DEX, to Halt Trading

LeetSwap Temporarily Halts Trading Over Potential Exploit

Decentralized exchange LeetSwap, which operates on Coinbase’s Base network, has announced a sudden pause to trading due to concerns of a potential exploit. The crypto site tweeted on Aug. 1 that it noticed some of its liquidity pools may have been compromised and decided to temporarily stop trading to investigate.

Igor Igamberdiev, the research head of algorithmic market maker Wintermute, shared theories on how the exploit may have worked. He suggested that the attacker could have used an exposed smart contract function to undertake a series of token swaps, eventually allowing them to drain liquidity pools on LeetSwap.

Igamberdiev reported that the potential exploit has led to the attacker gaining 342 Ether (ETH) worth over $630,000.

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