**🌟 Unfortunate News Alert 🌟: Perpetuals Trading Protocol Levana Faces Oracle Attack 💔, Loses $1.14 Million** ♾
📌 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 Levana’s liquidity pools. 😱
🔔 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. 😡
➡️ Adding fuel to the fire, a flaw in Osmosis’ fee market code and some “price staleness” in Levana’s integration with the Pyth oracle made it easier for the attackers to manipulate prices and drain the pools. 😤
💬 Levana shared, **“A 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.”** 🛠️
🟠 Despite the unfortunate events, the team stated that there were no known vulnerabilities in the Pyth oracle itself. 💪
💬 According to the team, **“Even though the Pyth oracle played a role in the attack, there were no identified weaknesses in the Pyth oracle. It performed as expected.”** 👍