Audit log

Every state-changing event for Level Finance: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions carry three independent witnesses — the original source, an Internet Archive snapshot taken at submission time, and a Solana memo signed by our publicly-disclosed publisher key.

1. #1publishby system:backfill

   2026-05-28 03:28:35Z
   Score: ? → ? (no score change)
   anchoranchored

   chain

   ●mainnet-betaslot 422,638,441

   sig

   ur7bCkSvNr9i…SuJbJ6Zjcopyexplorer ↗

   hash

   EhBB5KDt3VRw…tHqtBCP2copysha256 → base58

   verifying row…full verify ↗

   canonical bytes (5738 B) ▸

   {"actor":"system:backfill","investigation_id":"53923a2d-772b-4381-9593-9fa355fc6d98","kind":"publish","page_slug":"level-perps","published_at":"2026-05-28T03:28:35.819Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Level Finance","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://support.level.finance/what-is-level-finance/","type":"other","url":""},{"credibility":3,"name":"https://www.coingecko.com/learn/level-finance","type":"other","url":""},{"credibility":3,"name":"https://dappbay.bnbchain.org/detail/level-finance","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.bleepingcomputer.com/news/security/level-finance-crypto-exchange-hacked-after-two-security-audits/","type":"other","url":""},{"credibility":3,"name":"https://cointelegraph.com/news/level-finance-confirms-1m-exploit-due-to-buggy-smart-contract","type":"other","url":""},{"credibility":3,"name":"https://www.halborn.com/blog/post/explained-the-level-finance-hack-may-2023","type":"other","url":""},{"credibility":3,"name":"https://www.cryptotimes.io/2023/05/02/level-finance-experiences-1m-hack-due-to-bug-in-smart-contract/","type":"other","url":""},{"credibility":3,"name":"https://www.fxstreet.com/cryptocurrencies/news/level-finance-suffers-1-million-hack-amid-buggy-smart-contract-exploit-loses-214k-lvl-tokens-202305020153","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://docs.level.finance/security-and-contracts/security-and-audits","type":"other","url":""},{"credibility":3,"name":"https://certificate.quantstamp.com/full/level-finance/929d1708-a464-476d-86f3-7d7942faa4d2/index.html","type":"other","url":""},{"credibility":3,"name":"https://www.halborn.com/blog/post/explained-the-level-finance-hack-may-2023","type":"other","url":""},{"credibility":3,"name":"https://www.bleepingcomputer.com/news/security/level-finance-crypto-exchange-hacked-after-two-security-audits/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://defillama.com/protocol/level-finance","type":"other","url":""},{"credibility":3,"name":"https://coinmarketcap.com/currencies/level-finance/","type":"other","url":""},{"credibility":3,"name":"https://www.coingecko.com/en/coins/level","type":"other","url":""},{"credibility":3,"name":"https://docs.level.finance/tokenomics/lvl-utility-token","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://flagship.fyi/outposts/dapps/level-finance-lvl-crypto-token/","type":"other","url":""},{"credibility":3,"name":"https://tokeninsight.com/en/coins/level-governance/overview","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://t.me/s/investigations","type":"other","url":""},{"credibility":3,"name":"https://en.wikipedia.org/wiki/ZachXBT","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://defillama.com/protocol/level-finance","type":"other","url":""},{"credibility":3,"name":"https://defillama.com/perps/level-finance","type":"other","url":""},{"credibility":3,"name":"https://level.finance/","type":"other","url":""}]}],"sources_used":[],"summary":"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.","timeline":[{"date":"2022-11-01","event":"Level Finance begins security engagement with Obelisk Auditing for core smart contracts.","source":""},{"date":"2023-01-01","event":"Level Finance mainnet launches on BNB Chain with LVL utility token and LGO governance token.","source":""},{"date":"2023-01-09","event":"Obelisk Auditing publishes Core Contracts Audit for Level Finance.","source":""},{"date":"2023-01-24","event":"Obelisk Auditing publishes Trading Contracts Audit for Level Finance.","source":""},{"date":"2023-02-02","event":"Level Finance announces security partnership with Quantstamp.","source":""},{"date":"2023-04-05","event":"Quantstamp publishes full smart contract audit report for Level Finance.","source":""},{"date":"2023-04-21","event":"LVL token reaches all-time high of approximately $11.22.","source":""},{"date":"2023-04-24","event":"Alleged preliminary exploit attempt goes undetected approximately one week before the main attack (per Halborn post-mortem).","source":""},{"date":"2023-05-01","event":"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.","source":""},{"date":"2023-05-02","event":"Multiple security firms (Halborn, PeckShield, Cyvers) publish post-mortems confirming referral logic bug. LVL token down ~50% from pre-exploit price.","source":""},{"date":"2023-12-26","event":"Scheduled first team token unlock: 25% of team allocation vests per published tokenomics schedule.","source":""},{"date":"2026-05-01","event":"Protocol TVL at approximately $32,880 across BNB Chain and Arbitrum. Fees and revenue at $0. Protocol assessed as effectively dormant.","source":""}]},"v":1}

   Verify offline (run on your own machine)

   python -m src.verify_decision 0e7f4b39-e052-4095-9f1d-70f20c82bd89copy