BREAKING: Cream Finance appears to have suffered major loss in flash loan hack
Malicious actors continue to target decentralized finance projects for their exploits. On Wednesday, a major DeFi lending platform suffered a flash loan attack. Decentralized lending platform Cream Finance appears to have suffered a severe exploit on Wednesday, with an attacker stealing over $100 million worth of funds through a large flash loan attack. Blockchain data analytics company PeckShield first identified the flash loan on Wednesday. The compromised funds were mainly Cream liquidity provider tokens, as well as other Ethereum-based tokens.#FlashLoanAlert....
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Cream Finance is a decentralized finance protocol to repay users for the flash loan hack on its platform. The hack of nearly $19 million occurred on Aug 30, 2021. Cream Finance puts news of a post-mortem to the massive exploitation of the AMP flash loan. The protocol promises to repay the stolen Amp (AMP) and Ether (ETH) coins. It plans on footing its promise by allocating 20% of all the protocol fees until the debt is fully paid. Furthermore, the protocol will post collateral with the pertinent parties at AMP. It will also involve the Flexa digital payments network, the creators, for the....
Cream Finance is the latest Ethereum DeFi protocol to suffer another hack. The attackers had used a flash loan attack and made away with $130 million. Cream Finance confirmed the attack via a Twitter post where the project revealed that they were investigating the cause of the hack. The exploit had exposed vulnerabilities in the […]
Ethereum defi protocol Cream Finance suffered an exploit yesterday that allowed attackers to steal $130 million from its holdings. The news was first revealed by Peckshield, a blockchain analytics company that discovered a flash loan had exploited the platform. This is the third hack the protocol has suffered in its history, being exploited for $36 and $29 million before, respectively.
Cream Finance Hacked Yet Again
Cream Finance, an Ethereum-based lending and borrowing protocol, suffered an exploit that allowed the hackers to steal $130 million worth of ether and ERC-20 tokens.....
Cream Finance has identified the AMP integration error that caused a nearly $19 million loss for the protocol and aims to pay users back. Decentralized finance (DeFi) protocol Cream Finance will pay back its users following a $18.8 million flash loan hack that occurred on Aug. 30.Cream has published a post-mortem to the AMP flash loan exploit, promising to replace the stolen Ether (ETH) and Amp (AMP) tokens by allocating 20% of all protocol fees until the debt is paid entirely. Cream will also post collateral with relevant parties at AMP and its creators, Flexa digital payments network, to....
The Cream Finance hacker gained $18.8 million by exploiting a reentrancy bug in the AMP token in a set of 17 transactions. Cream Finance, a major decentralized finance (DeFi) protocol focused on lending, has suffered a major exploit, with a hacker stealing nearly $19 million from its platform.An unknown hacker has managed to gain $18.8 million in the latest flash loan exploit of the Cream Finance protocol through a reentrancy bug introduced by the Amp (AMP) token, according to an investigation by blockchain security firm Peckshield.Announcing the news Monday, Cream Finance said that the....