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Cream Finance Loses $18 Million in Crypto In Second Hackers’ Attack This Year

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Mon, 08/30/2021 - 07:58
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Yuri Molchan
Cream Finance has been attacked by cyber criminals, who managed to steal around $18 million in cryptocurrencies from it, pushing AMP and CREAM down
Cream Finance Loses $18 Million in Crypto In Second Hackers’ Attack This Year
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Chinese blockchain journalist Colin Wu has reported that Cream Finance, a crypto mortgage lending platform, has suffered a hacker attack and lost approximately $18 million worth of crypto. The hack took place less than two hours ago.

Etherscan shows 17 transactions made by two malefactors. The platform shows that the hackers have stolen funds in wrapped Ether, AMP and Cream Ether.

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Image via etherscan

However, a Reddit post adds that they have also stolen a lot of CREAM tokens. This resulted in the price of AMP dropping by approximately 15% and CREAM dropping by around 6%.

Colin Wu reminds the community that this is the second time Cream Finance has become a victim of a hack. Back in February of this year, it also faced a flash-loan attack and had $37.5 million U.S. in crypto stolen.

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Back then, the funds were withdrawn in USDC, wrapped Ether, USDT and DAI.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.