Cream Finance Decentralized Lending Platform It appeared to be experiencing another serious attack on Wednesday. The attackers stole over $100 million worth of crypto through a massive flash loan attack.
Blockchain data analytics firm PeckShield specifyReached the first flash loan attack on Wednesday. Most of the compromised funds were CREAM tokens. Like other tokens on Ethereum
attackertake advantage of Vulnerable smart contracts This is usually done by modifying the value of the trading pair by flooding contracts using borrowed tokens.
Cream Finance is a frequent target of attackers. As evidenced by the previous $19 million attack in August. which at that time The attack relied on the reentrancy bug introduced by Amp cryptocurrency. It is an Ethereum-based token designed to secure digital payments on Flexa.
Currently, the Total Value Lock (TVL) value of the Cream hasvalueMore than $1.5 billion, according to defillama.
Cream Finance notified via Twitter that it is investigating the attack. And, of course, the crypto community has come in furiously criticizing Cream’s bad track record when it comes to protecting user funds.
We are investigating an exploit on CREAM v1 on Ethereum and will share updates as soon as they are available.
— Cream Finance
(@CreamdotFinance) October 27, 2021
According to CryptoSec, the latest Cream Finance attack is one of the largest. Meanwhile, the value of the CREAM token dropped more than 26% to $110 accordingly.Data from Cointelegraph Pro
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