To recompense victims of the attack, Cream said it will issue to certain affected members 1.45 million CREAM tokens from the service’s treasury. While Cream has 9 million coins outstanding, per CoinMarketCap, only 150,000 of those are in circulation. By so rapidly expanding the supply of coins in circulation, it’s bound to affect demand and therefore the per-coin … [Read more...] about Cream Plunges on News That Hack Compensation Will Inflate Token Supply
CREAM
Cream Finance Exploited in Flash Loan Attack Netting Over $100M
The funds appear to have been taken using a flash loan in a notably complex transaction that involved 68 different assets and cost over 9 ETH in gas. Of the $260 million lost, the attacker netted roughly $130 million in various cryptocurrencies, of which $40.6 million may be in illiquid crETH, a staked ETH derivative that may prove difficult for the attacker to sell. Source … [Read more...] about Cream Finance Exploited in Flash Loan Attack Netting Over $100M
Cream Finance appears to have suffered major loss in flash loan hack
Decentralized lending platform Cream Finance appears to have suffered a severe exploit on Wednesday, with an attacker stealing over $100 million worth of funds through a large flash loan attack. Blockchain data analytics company PeckShield first identified the flash loan on Wednesday. The compromised funds were mainly Cream liquidity provider tokens, as well as other … [Read more...] about Cream Finance appears to have suffered major loss in flash loan hack
Cream Finance to repay stolen Ether and Amp via protocol fees
Decentralized finance (DeFi) protocol Cream Finance will pay back its users following a $18.8 million flash loan hack that occurred on Aug. 30.Cream has published a post-mortem to the AMP flash loan exploit, promising to replace the stolen Ether (ETH) and Amp (AMP) tokens by allocating 20% of all protocol fees until the debt is paid entirely. Cream will also post collateral … [Read more...] about Cream Finance to repay stolen Ether and Amp via protocol fees
DeFi tool Cream Finance hit for over $18 million. Suffers second hack in six months
Decentralized finance (DeFi) lending protocol Cream Finance has announced it lost millions worth of Amp token (AMP) and Ethereum (ETH) in a recent flash loan attack.The attack is being investigated by a blockchain security company PeckShield that discovered the exploited vulnerability and continues monitoring the flagged address.No other markets affected“C.R.E.A.M. v1 market on … [Read more...] about DeFi tool Cream Finance hit for over $18 million. Suffers second hack in six months