← Levana Perpsreviewed 2026-10-16 · 25 claims checked
Fact-check findings
What an automated fact-checker found when it re-read Levana Perps against the sources the page cites. Only the most recent review is shown.
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These findings are produced by an automated reviewer, and its results vary between runs: the same page, checked three times on the same day, came back with 15%, 20% and 34% of its claims disputed, mostly because each run extracted a different number of claims. Treat what follows as leads, not rulings.
“Disputed” means the reviewer could not reconcile the claim with the evidence it cited. It does not mean the claim is false. “Unverifiable” means no reachable source settled it either way.
Nothing here changes the page on its own. A proposed correction is applied only after a human moderator approves it; until then the page reads as it did when reviewed.
disputed 4unverifiable 5link rot 1partially supported 1confirmed 145 corrections pending · 0 applied
disputed
4 claimsThe reviewer could not reconcile the claim with the evidence it cited. This is a lead, not a ruling that the claim is false.
- #15[disputed][awaiting moderator]in section: LVN Token Performance and Sunset
“Gate.io halted LVN trading on June 19, 2025.”
reviewerGate.io halted LVN trading on June 19, 2025, following Levana's announcement of the token swap to RUJI.The cited CoinMarketCap AI page returned a 404 (see separate link_rot finding). Gate's own announcement places the trading halt about a month earlier than stated, on May 20, 2025, not June 19, 2025.Proposed correction (not yet applied)Gate.io halted LVN trading on May 20, 2025. - #16[disputed][awaiting moderator]in the timeline
“2025-06-19”
reviewerGate.io halted LVN trading on June 19, 2025 (timeline entry).Same underlying error as the corresponding sentence in sections[3].content.Proposed correction (not yet applied)2025-05-20 - #24[disputed][awaiting moderator]in section: Current Protocol Status
“RUJI Perps perpetual futures went live on the Rujira Network on July 25, 2025.”
reviewerRUJI Perps perpetual futures went live on the Rujira Network on July 25, 2025.No source found supports a July 25, 2025 launch date; the official announcement and contemporaneous weekly recap both place the go-live around July 1-2, 2025.Proposed correction (not yet applied)RUJI Perps perpetual futures went live on the Rujira Network on July 1, 2025. - #25[disputed][awaiting moderator]in the timeline
“2025-07-25”
reviewerRUJI Perps perpetual futures go live on the Rujira Network (timeline entry).Same underlying error as the corresponding sentence in sections[5].content.Proposed correction (not yet applied)2025-07-01
unverifiable
5 claimsNo source the reviewer could reach confirms or contradicts the claim.
- #10[unverifiable][awaiting moderator]in section: Security Audits
“FYEO Inc. conducted a remote security assessment between March 6 and April 13, 2023. The audit identified one critical severity finding, one medium severity finding, and two low severity findings; the Levana team reportedly remediated all findings before mainnet launch.”
reviewerFYEO Inc. conducted a remote security assessment between March 6 and April 13, 2023, finding 1 critical, 1 medium, and 2 low severity issues, all reportedly remediated before mainnet launch.Could not access the cited Medium post (persistent 403) nor find any independent corroboration of the specific FYEO finding counts or audit date range via web search. Not disputed, but not independently confirmable with the tools available. - #18[unverifiable][awaiting moderator]in section: LVN Token Performance and Sunset
“Approximately 78% of LVN supply had converted by the time the migration window closed.”
reviewerApproximately 78% of LVN supply had converted to RUJI by the time the migration window closed.No official Rujira/Levana source or independent outlet reporting a specific conversion percentage could be found despite multiple targeted searches. - #20[unverifiable][awaiting moderator]in section: Regulatory Status
“The protocol does not appear to have been named in any court filings.”
reviewerThe protocol does not appear to have been named in any court filings.A negative claim of this kind cannot be conclusively verified without access to court-record databases (e.g., PACER); no evidence found either way with the tools available. - #21[unverifiable][awaiting moderator]in section: Regulatory Status
“Levana's operations are structured as a decentralized protocol without a formally disclosed corporate headquarters, though early materials noted company activity in Tel Aviv, Israel.”
reviewerEarly materials noted company activity in Tel Aviv, Israel.No source found confirming or denying a Tel Aviv connection; PitchBook's listed corporate registration is in the Cayman Islands, which is a different (and not necessarily conflicting) fact from an early operational presence. - #22[unverifiable][awaiting moderator]in section: Current Protocol Status
“As of May 2026, the Levana Perps contracts remain deployed across Osmosis, Neutron, Injective, and Sei, with a combined TVL of approximately $735,000 according to DefiLlama.”
reviewerAs of May 2026, Levana Perps contracts remain deployed across Osmosis, Neutron, Injective, and Sei with combined TVL of approximately $735,000.Chain list (Osmosis, Neutron, Injective, Sei) matches independent snapshots. The specific $735,000 figure could not be confirmed directly since DefiLlama is a live, constantly-changing dataset and the direct fetch was blocked; this is plausible given the declining-TVL trend but not independently verifiable with the tools available.
link rot
1 claimA cited source no longer resolves or no longer says what the page attributes to it.
- #17[link rot][awaiting moderator]in the timeline
“https://coinmarketcap.com/cmc-ai/levana-protocol/latest-updates/”
reviewerSource for the Gate.io halt timeline entry.Dead link; replaced with Gate's own announcement, which also supplies the corrected date.Proposed correction (not yet applied)https://www.gate.com/announcements/article/45062
partially supported
1 claimThe cited evidence supports part of the claim but not all of it.
- #13[partially supported][awaiting moderator]in section: LVN Token Performance and Sunset
“The token reached an all-time high of approximately $0.8947 and, as of mid-2026, trades well below $0.01, representing a drawdown exceeding 99% from its peak.”
reviewerLVN reached an all-time high of approximately $0.8947 and, as of mid-2026, trades well below $0.01, a drawdown exceeding 99%.The $0.8947 figure and >99% drawdown are well corroborated by CoinGecko, BeInCrypto and DefiLlama, but the page's sole cited source for this section (CoinMarketCap) actually shows a materially different ATH ($0.7446). The underlying fact appears correct but is mis-cited; current sub-$0.01 price is confirmed by CoinMarketCap directly.
confirmed
14 claimsThe cited evidence supports the claim as written.
- #1[confirmed][no action needed]in the timeline
“Levana Protocol founded; originally developed on Terra blockchain.”
reviewerLevana Protocol was founded in 2021 and originally developed on the Terra blockchain.Cited Reflexivity Research page returned HTTP 503 on fetch (likely transient), but the 2021/Terra founding facts are corroborated by independent company-profile and interview sources. - #2[confirmed][no action needed]in section: Overview
“The protocol was bootstrapped by Delphi Labs and initially developed on the Terra blockchain before migrating following Terra's 2022 collapse.”
reviewerThe protocol was bootstrapped by Delphi Labs and migrated from Terra to Osmosis following Terra's 2022 collapse.Delphi Labs' role as incubator is independently corroborated; direct primary-source confirmation of the Terra-to-Osmosis migration narrative was not separately fetched but is consistent with multiple secondary sources. - #3[confirmed][no action needed]in section: Overview
“The protocol launched mainnet beta on Osmosis in July 2023 and expanded to Sei and Injective networks later that year.”
reviewerLevana launched mainnet beta on Osmosis in July 2023 and expanded to Sei and Injective later that year.Consistent with timeline[2] (2023-07 mainnet beta) and with independent company profiles describing the Cosmos multi-chain expansion. - #4[confirmed][no action needed]in section: December 2023 Oracle Manipulation Exploit
“Between December 13 and December 26, 2023, an unidentified attacker drained approximately $1.14 million from Levana's liquidity pools on the Osmosis blockchain, representing roughly 10% of total protocol liquidity.”
reviewerIn December 2023, Levana suffered a confirmed oracle-manipulation exploit spanning 13 days (Dec 13-26, 2023) that drained approximately $1.14 million, roughly 10% of LP funds.Extremely well corroborated across five independent news sources and the project's own postmortem. - #5[confirmed][no action needed]in section: December 2023 Oracle Manipulation Exploit
“The exploit relied on three compounding vulnerabilities: (1) a bug in Osmosis's fee market code that produced insufficient gas prices during congestion, effectively preventing legitimate transactions and oracle update transactions from being processed; (2) price staleness in Levana's integration with the Pyth Network oracle, which updated approximately every 90 seconds; and (3) artificial network congestion created by the attacker to widen the window of oracle staleness.”
reviewerThe exploit relied on three compounding vulnerabilities: Osmosis fee-market bug, ~90-second Pyth oracle staleness, and attacker-induced network congestion.Matches the technical root-cause description given independently by rekt.news, The Block, SiliconANGLE and Daily Hodl. - #6[confirmed][no action needed]in section: December 2023 Oracle Manipulation Exploit
“The affected markets and approximate losses were: USDC pairs ($250,000), stATOM/USD ($241,000), ATOM/USD ($229,000), BTC/USD ($190,000), ETH/USD ($128,000), and TIA/USD ($108,000).”
reviewerPer-market losses: USDC pairs $250,000; stATOM/USD $241,000; ATOM/USD $229,000; BTC/USD $190,000; ETH/USD $128,000; TIA/USD $108,000.Figures match rekt.news's breakdown precisely, including the combined USDC total. - #7[confirmed][no action needed]in section: December 2023 Oracle Manipulation Exploit
“A concurrent distributed denial-of-service (DDoS) attack ran from December 17 through December 26, reportedly hampering the team's ability to detect and respond to the exploit in real time.”
reviewerA concurrent DDoS attack ran from December 17 through December 26, 2023, hampering detection/response.Exact date range confirmed by SiliconANGLE; rekt.news corroborates a DDoS occurred during 'most of the exploit period' without giving exact dates. - #8[confirmed][no action needed]in section: December 2023 Oracle Manipulation Exploit
“The Levana team confirmed that the Pyth oracle itself behaved as designed and was not exploited directly; the vulnerability was in Levana's reliance on oracle data during congestion events combined with the Osmosis fee market bug.”
reviewerLevana confirmed the Pyth oracle itself behaved as designed and was not directly exploited; the vulnerability was in reliance on oracle data during congestion combined with the Osmosis fee-market bug.Directly corroborated, verbatim in substance, by The Block, SiliconANGLE and Daily Hodl. - #9[confirmed][no action needed]in section: December 2023 Oracle Manipulation Exploit
“All existing trader positions remained unaffected. The team halted new position openings pending a patch, deployed a fix requiring fresh oracle prices for all new position opens, and committed to compensating impacted liquidity providers via a combination of an LVN airdrop and redistribution of protocol fees collected during the attack window.”
reviewerAll existing trader positions were unaffected; new position openings were halted pending a patch requiring fresh oracle prices; LPs were to be compensated via LVN airdrop and fee redistribution.Consistent across all five news sources reviewed. - #11[confirmed][no action needed]in section: Security Audits
“PeckShield also conducted a separate audit of the Levana Perps contracts, the report for which was published publicly. Neither audit covered the oracle-congestion attack vector that was subsequently exploited, highlighting the limitations of static smart contract audits against dynamic infrastructure-level attack surfaces.”
reviewerPeckShield also conducted a separate audit of the Levana Perps contracts, published publicly; neither audit covered the oracle-congestion attack vector later exploited.Directly verified by reading the cited PDF; its findings are unrelated to the attack vector used in the December 2023 exploit, consistent with the page's framing. - #12[confirmed][no action needed]in section: LVN Token Performance and Sunset
“The LVN token launched on December 18, 2023, with 70 million tokens issued at genesis out of a 1 billion total supply.”
reviewerLVN token launched December 18, 2023, with 70 million tokens issued at genesis out of a 1 billion total supply.Confirmed by the cited source and an independent outlet. - #14[confirmed][no action needed]in section: LVN Token Performance and Sunset
“In April 2025, Levana Protocol announced a strategic merger with Kujira and related Cosmos ecosystem projects to form Rujira, an application layer on THORChain. LVN holders were given a 12-month window (April 5, 2025 to April 5, 2026) to migrate their tokens to RUJI at a bonding-curve rate that favored early conversion.”
reviewerIn April 2025, Levana announced a strategic merger with Kujira into Rujira on THORChain's app layer; a 12-month LVN-to-RUJI migration window ran April 5, 2025 to April 5, 2026 on a bonding curve favoring early conversion, which closed April 5, 2026.Directly confirmed by official Rujira documentation. - #19[confirmed][no action needed]in section: Regulatory Status
“No regulatory actions from the SEC, CFTC, DOJ, or any comparable jurisdiction have been identified against Levana Protocol, its parent entities, or named founders as of the date of this investigation.”
reviewerNo regulatory actions from the SEC, CFTC, DOJ or comparable jurisdiction have been identified against Levana, and LVN does not appear on OFAC's SDN list.Consistent with the absence of any enforcement-related coverage found across all searches performed for this review. - #23[confirmed][no action needed]in section: Current Protocol Status
“Historical on-chain perp volume exceeds $4.2 billion across all chains since inception.”
reviewerHistorical on-chain perp volume exceeds $4.2 billion across all chains since inception.Confirmed via a DefiLlama snapshot.
How this fits together. The reviewer reads the published page and its cited sources and records one finding per claim. A human moderator decides whether each proposed correction is applied; those decisions, and the score changes they cause, appear in the audit log. Earlier review runs are not shown here; only the latest reflects the page as it stands.