Cream Finance chopped for $ 130 million

Cream Finance chopped for $ 130 million

The decentralized credit protocol Cream Finance has suffered a flash loan attack in which various crypto assets were lost worth over $ 130 million. This was the third successful hack against the popular Defi project last year.

Cream Finance has confirmed this Wednesday an exploit Flash-Darlehen attack, which mainly endangered Cream LP token and other ERC 20 coins. The blockchain security company Peckshield was the first to identify the attack. Data from Blockchain Explorer Etherscan show that $ 132 million from the Cream V1 marketplace on Ethereum were stolen and later sent to two different wallets. The flash loan comprised 68 different assets and cost around 9 ETH in gas. At the time of printing, the attacker now holds various tokens worth $ 92 million in his contract, and $ 22 million are held by the address of the contractual provider.

#flashloanalert https://t.co/xzavhqoinn

- Peckshield Inc. (@peckshield) 27. October 2021

The price of Cream crashed by 27 % from $ 111 to $ 111, according to Coingecko. This is the third time that Cream Finance suffered a security violation this year alone. How crypto potato reported On August 30, the loan protocol was chopped by re-entry into the AMP token contract, which was estimated to be $ 25 million of AMP coins and ERC 20 tokens. This is not only the biggest hack from Cream Finance, but according to some estimates the third largest in defi history. While Rekts Besty list , this hack moves the 59-millions of dollar-Exploit to fourth place, during poly and the compound will remain the leaders of the board.

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