Summary
LaunchZone (LZ) was a Binance Smart Chain-based DeFi launchpad and IDO platform originally launched as BSCex in December 2020, later rebranded in March 2021. On February 27, 2023, the protocol suffered a critical smart contract exploit in its Bscex SwapX contract, resulting in approximately $700,000 drained from its liquidity pool and a total of nearly $7.8 million in cumulative losses as additional vulnerable contracts were identified. The platform ceased operations on March 26, 2023, with over 75,000 user wallets remaining exposed weeks after the initial attack. ZachXBT has flagged this entity as a risk.
Connected Entities
1 entitiesTimeline(10 events)
2020-12-01
BSCex (BSCEX) launches on Binance Smart Chain as the first decentralized exchange ecosystem on BSC.
2021-03-14
BSCEX rebrands to LaunchZone, pivoting toward a launchpad-first identity with IDO services, LZ Swap, LZ Pool, and LZ Wallet.
2021-09-22
LaunchZone announces partnership with IoTeX network to bring launchpad services and IDOs to the IoTeX ecosystem.
2021-10-01
Final vulnerable LaunchZone smart contract deployed (four contracts deployed between January and October 2021 later identified as carrying the access control flaw exploited in 2023).
2023-02-27
Attacker (0x7d192fa3a48c307100c3e663050291fff786aa1f) exploits the Bscex SwapX contract, draining approximately $700,000 from LaunchZone's liquidity pool via PancakeSwap. The same attacker simultaneously exploits DungeonSwap for $728,000 and HFI for $18,940. LZ token price collapses 83-86%. Biswap delists LZ within hours.
2023-02-27
LaunchZone pauses trading and transfers of the LZ token. Team communicates via Telegram only, making no announcement to its 275,000 Twitter followers.
2023-02-28
LaunchZone discloses the SwapX vulnerability publicly, attributes attack to 'DND exploiter.' Community members raise rug pull allegations.
2023-03-07
LaunchZone announces compensation plan: affected users to receive $iRD tokens with a 15-month vesting period, convertible to $RD and stakeable for $USDC rewards.
2023-03-26
LaunchZone website (lz.finance) ceases operations. Protocol effectively defunct.
2023-03-27
Security researchers report 75,564 BSC wallet addresses remain exposed to the compromised contracts, with only 7,860 having revoked approvals. Total cumulative losses across all affected contracts reported at $7,792,137.
Decision Log
- hash: 5yKryQq8E4NqAwDvuqMxo7BdToPdEyLUYr7WAmaQnaff
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:44 AM
last updated: 5/30/2026, 4:56:45 AM
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