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
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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
Flash loan attack on DeFi platform ‘Belt Finance’ sees $6.2 million gone
Belt Finance, a decentralized finance (DeFi) platform based on smart contract network Binance Smart Chain (BSC), became the latest project to fall victim to a flash loan attack, losing over $6.2 million worth of tokens in the process.“On May 29, 2021, a flash loan attack was initiated on the BSC 4Belt (USDT/USDC/BUSD/DAI) pool. The attacker created a smart contract that used … [Read more...] about Flash loan attack on DeFi platform ‘Belt Finance’ sees $6.2 million gone
Pancake Bunny token plummets by 90% after $40 million flash loan attack
The price of Pancake Bunny (BUNNY), the native token of the eponymous decentralized finance (DeFi) platform based on the Binance Smart Chain (BSC), plummeted by over 90% after it fell victim to a flash loan attack today.4⃣ The hacker then dumped all the bunny in the market, causing the bunny price to plummet5⃣The hacker paid back the bnb through … [Read more...] about Pancake Bunny token plummets by 90% after $40 million flash loan attack
C.R.E.A.M. launches Iron Bank flash loans, eyes cross-chain capital efficiency
In a press release today, C.R.E.A.M. Finance announced a new feature for (and, by proxy, an unofficial relaunch of) Iron Bank, the protocol-to-protocol lending platform designed for flash and undercollateralized loans. C.R.E.A.M., which founder Leo Cheng describes as “the yolo-est Compound fork,” is a money market designed to cover assets that are “underserved” and allow for … [Read more...] about C.R.E.A.M. launches Iron Bank flash loans, eyes cross-chain capital efficiency