The Crema Finance decentralised liquidity protocol (Solana ecosystem) has halted its app following a hacking incident.
🚨🚨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
According to OtterSec analysts, the attackers stole digital assets from the project’s liquidity pools totaling about $6 million. The attack was carried out using flash loans on the Solend lending platform.
@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
Experts noted that unknown actors discovered a vulnerability that allows deposits to be made into the protocol and withdraw a corresponding amount of assets while receiving additional tokens via the инструкцию Claim. In order to execute the attack, the hackers deployed a proprietary smart contract on the Solana network that interacted with Crema Finance.
As of writing, at the suspected address адресе the attacker holds 69 422 SOL (~$2.28 million).
Thanks 🙏 https://t.co/QbeCfSAkt7
— Henry | Crema Finance (@HenryCanFly) July 3, 2022
The Crema Finance team is investigating the incident. The developers pledged to disclose details of the attack and the extent of losses later.
Earlier, on June 24, a hacker stole about $100 million in an attack on Harmony’s Horizon cross-chain bridge.
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