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

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

Chinese blockchain journalist Colin Wu has reported that Cream Finance, a crypto mortgage lending platform has suffered a hackers’ attack and lost approximately $18 million worth of crypto. The hack took place less than two hours ago.

Cream Finance was attacked by a flash loan and lost approximately US$18 million. https://t.co/Do6xvbQ7r5— Wu Blockchain (@WuBlockchain) August 30, 2021

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

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

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

Back then, the funds were withdrawn in USDC, wrapped Ether, USDT and DAI.

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