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**๐ŸŒŸ Unfortunate News Alert ๐ŸŒŸ: Perpetuals Trading Protocol Levana Faces Oracle Attack ๐Ÿ’”, Loses $1.14 Million** โ™พ

๐Ÿ“Œ Oh no! Our beloved perpetuals trading protocol Levana has been hit by an oracle attack, leading to a significant loss of $1.14 million. The Levana team revealed that this attack unfolded between December 13th and December 26th, with the attackers managing to drain 10% of Levanaโ€™s liquidity pools. ๐Ÿ˜ฑ

๐Ÿ”” The culprits behind this dastardly act exploited a congestion attack on the Osmosis chain, causing chaos for Levana users who were trying to participate in the markets. ๐Ÿ˜ก

โžก๏ธ Adding fuel to the fire, a flaw in Osmosisโ€™ fee market code and some “price staleness” in Levanaโ€™s integration with the Pyth oracle made it easier for the attackers to manipulate prices and drain the pools. ๐Ÿ˜ค

๐Ÿ’ฌ Levana shared, **โ€œA bug in the Osmosis fee market code meant that during congested times, the provided gas price was often inadequate for trading or conducting essential bot maintenance activities.โ€** ๐Ÿ› ๏ธ

๐ŸŸ  Despite the unfortunate events, the team stated that there were no known vulnerabilities in the Pyth oracle itself. ๐Ÿ’ช

๐Ÿ’ฌ According to the team, **โ€œEven though the Pyth oracle played a role in the attack, there were no identified weaknesses in the Pyth oracle. It performed as expected.โ€** ๐Ÿ‘

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