Cream Finance (CREAM) was attacked by Flash Loan, shedding $ 18 million

Another new day, a different hack in the planet of cryptocurrencies. And this time, Cream Finance continued to be visited by hackers. Cream Finance (CREAM) was...

Another new day, a different hack in the planet of cryptocurrencies. And this time, Cream Finance continued to be visited by hackers.

In the early afternoon of August thirty, 2021, Vietnam time, Cream Finance (CREAM) – a significant lending protocol in the DeFi marketplace – was attacked by Flash Loan, resulting in losses. 18 million bucks.

Cream Finance was attacked by a flash loan and misplaced about $ 18 million. https://t.co/Do6xvbQ7r5

– Wu Blockchain (@WuBlockchain) August 30, 2021

“Cream Finance just suffered a Flash Loan attack, with a loss of approximately $ 18 million.”

cream-finance-loan-flash-1 — The handle of the hacker’s wallet. The supply: Etherscan

If you are not confident what the Flash Loan is, read through the short article Flash Loan – The double-edged sword of the DeFi marketplace? by Coinlive.

According to the over wallet handle, 17 transactions had been manufactured. And numerous analysts feel that this crew consists of two forwards.

After this information spread, the price tag of CREAM began to drop heavily. CREAM is at the moment trading close to the price tag of 167 USD, it has dropped virtually seven% in the previous 24 hrs.

Cream Finance CREAM was attacked by Flash Loan losing — CREAM / BUSD Candle 15m price tag chart on Binance exchange

In certain, this is not the initially time this platform has been “visited” by hackers. In February of this 12 months, Cream Finance was hacked, shedding 13,000 ETH. Then, in March 2021, Cream Finance and PancakeSwap suffered DNS attacks. Therefore, it seems that Cream Finance is the “favorite target” of hackers.

This hack follows a series of months of limitless hacks in the cryptocurrency marketplace. First there was a steady chain of attacks on Binance Smart Chain (BSC. Then there was Poly Network with the greatest hack in the background of the cryptocurrency marketplace.

Yesterday, August 29, 2021, the Bilaxy exchange was hacked, creating the price tag of BTC to drop by virtually $ two,000 in just a single hour.

It appears that the state of protection in the cryptocurrency marketplace has not enhanced substantially!

Synthetic currency 68

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