Author: Jean-Pierre Buntinx
United States Source: BlocDesk
Nov 15, 2021 10:25
CREAM Finance Regains 36% Of TVL In A Week As Overall DeFi Lending Interest Seems To Rise
Lending solutions remain one of the primary use cases in the decentralized finance segment. As a result, numerous projects compete for traction and TVL, with varying success. Although other platforms note similar momentum, CREAM Finance has noted a significant influx of funds again. DeFi Lending TVL Keeps Rising It is interesting to see so many […]
View DetailsAuthor: Brooks Butler
United States Source: Crypto Briefing
Oct 30, 2021 01:30
Andre Cronje Suggests Aave Has a Major Vulnerability
View DetailsAuthor: DailyCoin
United States Source: DailyCoin.com
Oct 28, 2021 07:55
Crypto Flipsider News – $700M Bitcoins Liquidated, ETH 2.0 Altair Goes Live, Coinbase Takes Over TikTok, DeFi Cream Finance Suffers $130M Hack
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View DetailsHong Kong Source: Blockchain News
Oct 28, 2021 10:40
Crypto Hackers Steal Over $130M from Cream Finance DeFi Platform
This is the third major hack on the Cream Finance DeFi lending platform within this year. Tens of thousands of customers have been affected by the hack. (Read More)
Author: Stefan Stankovic
United States Source: Crypto Briefing
Oct 28, 2021 01:25
$136M Lost as Cream Finance Suffers Another Flash Loan Attack
View DetailsAuthor: CryptoNinjas.net
Ethiopia Source: CryptoNinjas
Sep 09, 2021 06:25
C.R.E.A.M. Finance begins bridge strategy bringing NFTs and the Metaverse to DeFi
C.R.E.A.M. Finance, a decentralized lending protocol, is bringing NFTs and the Metaverse to DeFi with phase one of its larger strategy to build the bridges between DeFi, NFT, and the Metaverse ecosystems. In collaboration with Chainlink, C.R.E.A.M. Finance is now the first borrowing/lending DeFi protocol to support Axie Infinity’s AXS and Yield Guild Games’ YGG […]
View DetailsAuthor: Vishal Chawla
United States Source: Crypto Briefing
Sep 08, 2021 08:10
Cream Finance Hacker Returns $17.6M in Stolen Funds
View DetailsHong Kong Source: Blockchain News
Sep 02, 2021 02:50
Cream Finance Promise to Refund Stolen Funds in its $462M Protocol Exploit
Cream Finance has plans to refund victims of its latest network attack. (Read More)
Author: Asad Gillani
United Kingdom Source: NewsBTC
Aug 31, 2021 12:09
Cream Finance Loses $25 Million To A Flash Loan Attack
PeckShield reported through a tweet of the new hack on Cream Finance. The blockchain security company said a flash loan attack on the decentralized finance lending and borrowing protocol. #FlashLoanAlert https://t.co/JPW7e368qd — PeckShield Inc. (@peckshield) August 30, 2021 PeckShield explained that the hacking came through a 500 Ethereum flash loan from the attacker. This was used to infiltrate a reentrancy bug in the smart contract of the Flex Network. Usually, flash loans being undercollateralized can be borrowed and repaid within a single transaction. Related Reading | Cryptocurrency Firms In Switzerland To Offer Tokenized Products On Tezos As a DeFi protocol for lending, Cream Finance allows users to earn interest from their deposited assets. Though Cream Finance is a fork of the Compound protocol, its operation is quite different from Compound or Aave. The platform has several more markets for some esoteric digital assets. 1/4 @CreamFinance was exploited in (one hack tx: https://t.co/JPW7e368qd), leading to the gain of ~$18.8M for the hacker. — PeckShield Inc. (@peckshield) August 30, 2021 This attack on Cream Finance was exploitation involving 1,308 Ethereum and over 418 million AMP, the native token of Flexa Network. According to PechShield, the Ethereum records reveal that over $6 million were hacked at 5:44 UTC. Cream Finance Becomes Another DeFi Protocol Hacked In 2021 Furthermore, the Cream Finance team members confirmed the authenticity of the hacking reporting. Then, reporting on Discord Channel, the project’s official channel, the members started working with PeckShield. The team revealed that the hacking was on the CREAM v1 market on the Ethereum Blockchain. Furthermore, they mentioned that it’s through the reentrancy of the contract on the AMP token. At the time of writing, AMP’s value has dipped by 15% within few hours to $0.05. Also, the value of Cream Finance’s native token, CREAM, plummeted by about 6%. However, ETH is at $3, 190.46 showing a slight dipping within the last 24 hours. The total amount of the Crean Finance hacking is more than $25 million. The address of the hackers shows that they presently have about $18.8 million. Amidst the hack, Cream Finance is down by 6% | Source: CREAMUSD on TradingView.com The Cream Finance team has put a stop to any further loss. The team said that it now has a pause on AMP’s supply and borrow. It further acknowledged that the hack doesn’t affect any other market. Eason Wu, the protocol’s production Manger, disclosed this information on Discord. Recall that earlier in the year; Cream Finance had a huge hack. The attack led to the loss of $37.5 million worth of digital assets. According to the report, the earlier hacking had a root cause from the exploitation of Alpha Finance. Related Reading | Reports Show 45% Surge In Stock And Cryptocurrency Sign-Ups Across Rural Areas In India Flash loans have remained one of the controversial features of decentralized finance. This’s because there’s no collateral needed for the loans, and hence, they are susceptible to hacks. This accounts for the recent attacks and hacks of flash loans. A similar incident is a hack on the Bilaxy crypto exchange on August 28. The exchange had a huge hot wallet hack that compromised about 295 ERC-20 tokens. Also, a hack on Liquid on August 19 resulted in a loss of about $100 million. Featured image from Pixabay, chart from TradingView.com
View DetailsAuthor: Nathan Morgan
United States Source: News – CoinQuora – Latest Cryptocurrency and Block
Aug 30, 2021 07:35
Cream Finance DeFi Platform Suffers $19M Exploit
Cream Finance DeFi announced that it lost $19 million in a major security attack. The hacker gained $18.8 million by
View DetailsAuthor: Vishal Chawla
United States Source: Crypto Briefing
Aug 30, 2021 03:17