Hacked DeFi Protocol Cream Finance to Reimburse $18 Million in Damages

The developers of the decentralized Cream Finance protocol возместят пострадавшим пользователям потери в результате недавней атаки с использованием мгновенных займов.

The project will earmark 20% of fees for this purpose until the full amount is repaid. The developers are also prepared to pay 10% of the stolen funds to the hacker if he returns the funds.

According to the latest calculations, Cream Finance’s losses amounted to 462,079,976 AMP and 2,804 ETH — more than $18 million.

“We identified the основной эксплойт и его меньшую копию. The address of the second imitator-exploit has a withdrawal history to Binance. We are cooperating with the exchange to identify the second attacker. This information will be forwarded to law enforcement authorities,” said project representatives.

Trading of the AMP token has been suspended until the identified bug is fixed.

On 30 August, two hackers exploited the bug in the Flexa Network smart contract. They conducted 17 transactions, resulting in additional token flash loans.

What are Flash Loans (мгновенные займы)?

In 2021 this was Cream Finance’s second hacker attack. In February, criminals exploited a bug in the Alpha Finance smart contract and stole tokens worth $37.5 million.

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