Altcoin project Cream Finance (CREAM), which has been hacked many times, has suffered more than $130 million in losses. The attack is reported by PeckShield. Here’s what happened…
Altcoin Cream Finance hacked more than $130M
Altcoin Cream Finance, founded by Jeffrey Huang, was attacked by instant loan, with losses exceeding $100 million. The project has been hacked many times before. Reportedly, $92 million was transferred to one address and $23 million to another address, among other funds. Funds are currently being moved to different wallets. This is the third largest DeFi hack in history, according to Rekt’s ranking. However, both of the larger hacks have been paid back.
The stolen funds were mostly focused on the Cream LP token and other ERC-20 tokens. Cream LP tokens are rewards you get when you deposit into Cream pools. Cream Finance is a decentralized lending protocol built on the Ethereum Blockchain. cryptocoin.com As we reported, the protocol has experienced multiple flash credit attacks in its history, losing $37.5 million in February and then another $18.8 million in August. This brings the total amount stolen in DeFi attacks to over $500 million.
CREAM price crashed after the attack
After PeckShield announced the trades, the CREAM price crashed and created the chart below. It is currently trying to hold on at 26% daily loss.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.