Left (LEFT) Crema Finance, a liquidity protocol on its website, announced that an undisclosed amount of funds was stolen and suspended its services due to the hack.
The hack was announced by Crema Finance on Twitter this morning:
“It looks like our protocol has just been hacked. We have temporarily suspended our program and are investigating. Updates will be posted here as soon as possible.”
🚨🚨Attention! Our protocol seems to have just experienced a hacking. We temporarily suspended the program and are investigating it. Updates will be shared here ASAP.
— CremaFinance (@Crema_Finance) July 3, 2022
A few hours later, Crema tweeted that he was working with OtterSec, a blockchain audit firm, and other organizations experienced in the investigation.
Solana Ecosystem DeFi Protocol Crema Finance Loss $6 Million In Flash Credit Attack
Replying to the same post, OtterSec announced that Crema Finance was the victim of a “recently $6 million hack.” According to the tweet by the blockchain company, the hacker used a method called flash loan to drain the funds in the liquidity pool.
@Crema_Finance was recently hacked for over $6M. Unlike previous attacks, this hacker used Solend flashloans to drain the pool. We’re working closely with the Crema team to help resolve this issue.
In the meantime, we’ll be sharing what we know about the exploit 🧵 pic.twitter.com/5NjovZtAEb
— OtterSec (@osec_io) July 3, 2022
Crema Finance stated that as new information becomes available, it will share it with its followers.
The increase in the frequency of fraud and hacking events in the DeFi sector in recent days cryptocurrency attention in the market.
As it is known, Axie Infinity’s Ronin bridge was hacked in the past months and $ 625 million Ethereum and USDC tokens were seized by the attacker.
The Ronin bridge, which was closed after the incident, has recently started operating again. However, a new trouble arose at the Ronin bridge.
According to the statement made by the company, some funds sent from the Ethereum Blockchain to the Ronin bridge were stuck and could not be forwarded to their owners. The company reported that they will find a solution in the next update regarding the issue.
*Not investment advice.