"LeetSwap is an emerging DEX and DeFi ecosystem built on the leetest blockchains with a focus on retaining a secure, fast, and user-friendly experience, while introducing novel approaches and ideas to the space."
What appeared to be an excellent project and an excellent opportunity for huge long-term gains, turned into a nightmare just 24 hours later.
We created a token, and deployed it on the Base network.
This network is currently booming, as it has no outbound bridge, it only has inbound at the moment, and eventually an outbound bridge will be provided, but right now it doesn't exist. So taking advantage of the HYPE, everything was created from scratch. A Smart Contract for the token and even a website for it. It was a meme token, but with no intentions of doing a rugpull, we simply wanted and intended to be successful and have the token be a reference, even though we all know they eventually come to die, we wanted to try.
We provided liquidity of $18k usd, which was approximately 10 ETH. Lots and lots of money that came out of a DAO treasury. Deployed the token on the Base network and added liquidity on leetswap exchange.
Some random purchases came in from some users and maybe some bots. In turn, we created a marketing campaign that we tried to deploy on all networks.
But bad luck was on our side, and just 24 hours later, the token showed a huge red streak on the chart that took it to 0.
All the liquidity in the LP had disappeared in a matter of seconds. A few minutes after the initial shock, we were able to realize that it had been hacked through some sort of exploit. The hacker had bought with $1 usd some tokens and immediately sold them all over the LP, unbelievable.
The news went viral. Leetswap put out a statement explaining that they were investigating and that it was temporarily suspended as many LP tokens had been drained.
The hacker's wallet where all the funds went to, shows over $600k usd. A real crazy amount of money. This is everyone's money, which was stolen by someone unscrupulous, and has undoubtedly destroyed families and lives right now by this action. To many projects that had a hell of a lot more money in it, I'll still take them to 0. It's like doing a rugpull on all the tokens, but all the capital goes into the same wallet.
Being in crypto is constantly a stress because you don't know what will happen in the next few minutes. It's like a bubble that is waiting for the exact moment to burst.
That's why we always need to keep in mind:
don't invest more than you are willing to lose, or only use money that you don't immediately need for your survival.
Still it is very hard to face a loss of almost $20k usd, and no doubt recovering from the emotional blow is very difficult. But life goes on and new opportunities are always around the corner.
Finally, leetswap is working to see how the funds can be recovered, something that really seems impossible.
It was also determined what had caused the vulnerability that the hacker exploited with an exploit. Simply put, the Smart contract had a public function, which should be private. Unbelievable but true.
Conclusions
The usual: Don't invest more money than you are willing to lose. This seems tiring when you hear it, because it is repeated, but it is 100% real.
This is crypto and here everything can happen from one moment to another.
Leetswap fue hackeado por más de $600 USD. Una perdida enorme. Mi mala experiencia.
“LeetSwap es un ecosistema DEX y DeFi emergente construido sobre las blockchains más leetest con el objetivo de mantener una experiencia segura, rápida y fácil de usar, a la vez que se introducen nuevos enfoques e ideas en el espacio.”
Lo que parecía ser un excelente proyecto y una oportunidad excelente para obtener ganancias enormes a largo plazo, se convirtió en una pesadilla tan solo 24 horas después.
Creamos un token, y lo desplegamos en la red de Base.
Esta red está actualmente en auge, ya que no tiene bridge de salida, solo tiene por el momento entrada y eventualmente se proporcionará un puente de salida, pero ahora mismo no existe. Así que aprovechando el HYPE, se creó todo desde cero. Un Smart contract para el token e inclusive una web para el mismo. Era un meme token, pero sin intenciones de hacer un rugpull, simplemente queríamos e intentábamos tener éxito y que el token fuera de referencia, aunque todos sabemos que eventualmente llegan a morir, queríamos intentarlo.
Proporcionamos una liquidez de $18k usd, que eran aproximadamente 10 ETH. Muchísimo dinero que salió de un treasury del DAO. Se desplegó el token en la red de Base y se le agrego la liquidez en leetswap Exchange.
Llegaron algunas compras de forma random de algunos usuarios y quizás algunos bots. A su vez, creamos una campaña de marketing que intentamos desplegar en todas las redes. Pero la mala suerte estaba de nuestro lado, y apenas 24 horas después, el token mostró una raya roja enorme en el grafico que lo llevó a 0.
Toda la liquidez en la LP había desaparecido en cuestiones de segundos. Unos pocos minutos después del shock inicial, pudimos darnos cuenta que había sido hackeado mediante algún tipo de exploit. El hacker había comprado con $1 usd algunos tokens e inmediatamente los vendió por todo el LP, increíble.
La noticia se virilizó. Leetswap saco un comunicado explicando que estaban investigando y que se suspendía temporalmente ya que muchas LP de tokens habían sido drenadas.
La wallet del hacker a donde todos los fondos fueron a parar, muestra más de $600k usd. Una auténtica locura de dinero. Este es el dinero de todos, que fue robado por alguien sin escrúpulos, y que sin duda alguna ha destruido ahora mismo familias y vidas por esta acción. A muchos proyectos que tenían muchísimo más dinero en él, igual los llevo a 0. Es como hacer un rugpull en todos los tokens, pero todo el capital va a la misma wallet.
Estar en crypto es constantemente una tensión porque no sabes lo que pasará en los próximos minutos. Es como una burbuja que está esperando el momento exacto en explotar.
Por eso siempre nos dicen: No inviertas más de lo que estás dispuesto a perder, o que solo utilices dinero que no necesites inmediatamente para tu supervivencia.
Aun así es muy duro afrontar una pérdida de casi $20k usd, y sin duda recuperarse del golpe anímico es muy difícil. Pero la vida continua y nuevas oportunidades siempre están a la vuelta de la esquina.
Finalmente, leetswap esta trabajando para ver como se pueden recuperar los fondos, algo que realmente parece imposible.
También se determinó cual había sido la causa que provoco la vulnerabilidad que explotó el hacker con un exploit. Sencillamente el Smart contract tenía una función pública, que debería ser privada. Increíble pero cierto.
Conclusiones
Las de siempre: No inviertas más dinero del que estás dispuesto a perder. Esto parece que cansa cuando lo escuchas, porque se repite, pero es que es 100% real.
Esto es crypto y aquí todo puede pasar de un momento a otro.
Thanks for reading me today guys / Gracias por leerme hoy chicos...
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Too many hackers are able to steal funds from smart contract setups. Too many bad developers are active in the crypto space. Too many devs who think they can develop, but they can't. Developing is not just writing some functional code, but the whole thing, incl security and extensive and thorough testing. Essentially any financial service is a mission-critical service. Building mission-critical services emphasises all the work but functional coding. Somehow I think devs need to be openly qualified for the work in e.g. defi space.
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