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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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.

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Back then, the funds were withdrawn in USDC, wrapped Ether, USDT and DAI.