Base’s largest DEX LeetSwap halts trading amid exploit concerns

Decentralized exchange LeetSwap, which operates on Coinbase’S Base network has announced a sudden pause to trading, citing concerns of a potential exploit.on Aug. 1 that it noticed some of its liquidity pools may have been compromised and has temporarily able stopped trading to investigate.

Algorithmic market maker Wintermute’s research head Igor Igamberdiev was among those sharing theories on how the exploit may have worked, saying the attacker could have used an exposed smart contract function.The function would have allowed them to undertake a series of token swaps eventually allowing them to drain liquidity pools on LeetSwap.

LeetSwap Algorithmic market maker wintermute_t's research head, FrankResearcher, believes the attacker used an exposed smart contract function, allowing them to increase the price of a token which would then allow them to drain wrapped ETH from LeetSwap's liquidity pools.

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