Local Traders
Summary
Local Traders (localtraders.finance) is a peer-to-peer cryptocurrency exchange and native token (LCT) project launched in 2021, headquartered in Chile and targeting Latin American and African markets. On May 23, 2023, the platform's smart contract was exploited due to a missing access-control check, resulting in approximately 379 BNB (~$119,000) stolen from its liquidity pool. The LCT token has since declined approximately 99.9% from its all-time high, the platform has shown limited trading volume, unverified team credentials, and a lack of regulatory registration, and the project was flagged by on-chain investigator ZachXBT.
Connected Entities
1 entities · 10 linked investigationsTimeline(10 events)
2021-03
Local Traders whitepaper released; project announced as first LATAM-based tokenized P2P exchange
CoinCheckup ICO listing2022-10-19
LCT token ICO conducted on Binance Smart Chain at $0.001945 per token; soft cap of 40 BNB
CoinCheckup ICO listing2022-10-30
CertiK security audit completed; one major Centralization/Privilege finding identified and reportedly resolved; Skynet score 72.07
CertiK Skynet Project Insight2023-05-23
Smart contract exploit on BNB Chain drains approximately 379.32 BNB (~$119,040) via missing access-control check in function 0xb5863c10; attacker address 0xd771dfa8fa59bd2d1251a0481fca0cf216276dd7
Neptune Mutual exploit analysis2023-05-24
Local Traders team publicly acknowledges exploit; announces four-tranche 100 BNB buyback recovery plan and bug bounty via HackenProof
Local Traders Official Telegram Channel2023-10-03
LCT token reaches all-time high of approximately $0.392085 before subsequent collapse
CoinPaprika2025-05
Local Traders featured in sponsored articles on Vanguard Nigeria and Citi Newsroom Ghana promoting platform as best P2P option following Binance P2P withdrawal from African markets
Vanguard News Nigeria2026-05
LCT token trading at approximately $0.000363 — approximately 99.9% below all-time high — with 24-hour volume of under $1 on tracked exchanges
CoinPaprikaDecision Log
- hash: AUTJmUJXSr692JRS4MXRMwTPKrvaQMiqXHStaSRGru6b
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-5
generated: 5/4/2026, 2:54:42 AM
last updated: 5/30/2026, 12:21:36 PM
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