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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

Flash loan attack on DeFi platform ‘Belt Finance’ sees $6.2 million gone

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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

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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

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  • Kaspa (KAS) Has Tied with Ethereum Classic (ETC) Among HiveOS Miners
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