DeFi security project 'Lossless' helps recover $16.7M from Cream Finance hack
Lossless also plans to ship a security tool that will reportedly aid DeFi projects in preventing hacks and exploits on their platforms. Lossless, a decentralized finance (DeFi) security outfit, has assisted in the recovery of 5,152.6 Ether (ETH) siphoned during the Cream Finance exploit that occurred in August.Tweeting on Monday, Lossless identified white hat security expert Pascal Caversaccio as being pivotal to the successful recovery of the siphoned funds. As previously reported by Cointelegraph, DeFi lending protocol, Cream Finance suffered a flash loan attack to the tune of $19....
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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 […]
With a new security campaign, Cream Finance looks to minimize vulnerabilities. Decentralized lending protocol Cream Finance is backing another major effort to improve the security of decentralized finance.On Tuesday, Cream Finance announced a new security campaign in collaboration with several DeFi platforms like Immunefi, Armor and DeFiSafety to bring stronger security to its protocol and the wider DeFi ecosystem.As part of the campaign, Cream Finance is launching a $1.5 million bug bounty program with blockchain bounty platform Immunefi to strengthen Cream’s protocol, API and website....
Cream finance, a defi borrowing and lending protocol, has been the victim of a hack that erased more than $29 million from its vaults. The attacker took advantage of a loophole in the implementation for adding the amp token to the protocol. This is the second time the platform has been involved in a hack. The first breach happened in February, when Cream lost $37.5 million.
Cream Protocol Suffers Hack
Cream protocol, a defi lending-borrowing platform present on four different chains (Ethereum, BSC, Polygon, and Fantom), suffered a hack Monday that resulted in the loss of $29....
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....
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.....