I have just killed the Elusive Magma Cobra on two different characters, and both times the cobra was level 1. Not only that, but my attacks seemed to be scaled down to level 1 too. My level 70 characters were literally hitting this thing for 5 and 6 damage.
this happened to me on an Elusive Feral Bakar
(summoned with skinning item “Elusive Creature Bait” in Ohn’ahran Plains)
there’s a similar problem with cleave target dummies in Valdrakken