It is possible.
It's not going to happen though.
You're talking about someone exploiting and hacking the conquer account server, then writing software to do it automatically, then making the software edit the database to change your character's level to 120.
Can be done, more than likely won't though. Nobody who can hack that well is going to be hanging around here :\.
I dunno why I am even still.. I'll be making over 200k a year very soon and then I can say goodbye to all of you :p. But my website ( ehehehe never gonna tell ) offers programming services.. so if there's some kind of tool you guys would want coded.. just pay me the $$$ and I'll see what I can do lmao.