Levana Perps Hack

TOTAL LOST $1.1M
Medium Price Oracle Attack osmosis

Summarize with AI

ChatGPT Perplexity Claude Grok
Affected Chain osmosis Incident surface
Recovered - No recovery reported
All-Time Rank #815 By amount stolen
Auditors 1 Prior security audit

Incident Overview

The Levana Protocol: Levana is an acronym for “Leverage any Asset” Levana is a crypto collateralized perpetual swap platform designed to offer low fees and high real yield on a number of different Blockchains

This is classified as a Oracle Manipulation & Price Manipulation . Compare similar hacks →

Incident Report

Protocol / Project Levana Perps
Date of Incident
Affected Chain(s) osmosis
Attack Technique Price Oracle Attack
Classification Protocol Logic
Primary Source View Post-Mortem

Protocol Information

Protocol Type Derivatives
Smart Contract Language Rust
Official Website www.levana.finance
Protocol Twitter/X @Levana_protocol

What the Attacker Needed to Succeed

Understanding the prerequisites for this type of attack helps auditors identify protocols that are most at risk and helps developers build better defenses.

Technical Knowledge Deep understanding of price oracle attack and Solidity and EVM internals
Capital Required Seed capital to cover gas and initial position setup
On-Chain Access Ability to interact with osmosis smart contracts and deploy a custom exploit contract
Protocol Analysis Identification of the exploitable vulnerability in Levana Perps's contract logic - root cause: protocol logic
Execution Speed Precise transaction ordering and timing to exploit the vulnerability within a single atomic block
Obfuscation Plan A strategy to launder and move stolen funds - typically through mixers, cross-chain bridges, or decentralized DEX swaps to resist tracing

What Auditors Should Check

Could this have been caught in audit? Yes — skilled auditors routinely flag Price Oracle Attack vulnerabilities in code review
Audited by Audit Report 1 — still lost $1.1M. Prior audits don't guarantee safety, especially after post-audit code changes.

If you're auditing a protocol with similar architecture to Levana Perps, these are the critical security checks that could have prevented this incident (December 2023).

  • Verify all logic paths related to Price Oracle Attack are guarded by proper access controls and input validation - see the Oracle Manipulation & Price Manipulation attack class for patterns
  • Audit oracle price feeds for manipulation risks - ensure time-weighted average prices (TWAPs) or multi-source aggregators are used, not spot prices
  • Review privileged functions (owner, admin, governance) for potential abuse vectors - centralization risks should be documented and bounded with timelocks or multi-sigs

Master these auditing techniques with hands-on labs and real exploit scenarios in the Smart Contract Hacking course.

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Security Audit History

Related Attack Classes

The technique used in this hack maps to these vulnerability classes in our security curriculum:

See all Oracle Manipulation & Price Manipulation examples →

Oracle Manipulation & Price Manipulation

Sources & References

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