Hackers Hacked $37.5 million From The Popular Cream.Finance DeFi protocol

The decentralized finance industry has come under attack again. Attackers hacked the popular Cream.Finance DeFi protocol and withdrew $ 37.5 million from there.

The incident reportedly took place on Saturday 13 February. It is known that the hacker took advantage of a vulnerability in the technology of instant or flash credits, but the details of the hack are being specified.

“We are aware of the potential vulnerability and are studying it. Thank you for your support in our investigation, "wrote Cream. Finance representatives on Twitter.

Analyst Igor Igamberdiev estimated that as a result of the attack, the project lost about $ 37.5 million. In this case, the organizers used the services of Alpha Homora, Aave and Iron Bank, which are part of the infrastructure of Cream.Finance itself, to carry out malicious operations with instant lending that are already becoming commonplace. create an imbalance of assets in liquidity pools and withdraw them. In total, the hacker managed to withdraw 13,200 WETH, 3.6 million USDC, 5.6 million USDT and 4.2 million DAI.

Amid news of the Cream.Finance hack, the Cream token price fell from around $ 290 to $ 220.

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