Cream Finance’s DeFi protocol has been hacked again. Losses amounted to more than $ 130 million

Get real time updates directly on you device, subscribe now.

Cream Finance’s decentralized protocol has been hacked once again. The Block analyst Igor Igamberdiev drew attention to this.

According to Etherscan, an unknown person used an instant loan as part of a complex transaction. The commission exceeded 9 ETH ($ 36,879 at the time). Most of the stolen assets are represented by Cream Finance liquidity provider tokens and other ERC-20 coins.

Project representatives said they are studying the exploit and will reveal details as they become available.

According to The Block, the amount of damage exceeded $ 130 million.

At the time of writing, the project token has lost 28.1% in the last hour, according to CoinGecko.

Сream / USDT chart of exchange FTX. Data: TradingView.

In February, an unknown attacker exploited a vulnerability in the Iron Bank protocol (the second version of the Cream Finance project) and withdrew tokens totaling $ 37.5 million.

On August 30, Cream Finance’s DeFi protocol came under attack with instant credit. The damage amounted to 462,079,976 AMP and 2804 ETH (more than $ 18 million).

On September 8, the attacker transferred most of the stolen amount in the amount of 5,152.6 ETH to the project’s multisig wallet.

In early October, the developers of the decentralized protocol confirmed that the project managed to return 5152.6 ETH. The hacker was allowed to keep 10% of the stolen funds – approximately 515 ETH as a reward for the error he discovered.

Stay in touch! Subscribe to World Stock Market in Telegram.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.