Ethereum DeFi protocol Cream Finance hacked for $115 million

Ethereum DeFi protocol Cream Finance hacked for $115 million

DeFi protocol Cream Finance has been hacked for $115 million. The exploit was highlighted by PeckShield, who identified a large flash loan that was used to carry it out.

According to blockchain records, $92 million was stolen into one address and $23 million into another. This is the third largest DeFi hack in history, according to Rekt's leaderboard (although both of the two bigger hacks had funds returned).

Cream Finance is a decentralized lending protocol built on the Ethereum blockchain. The protocol has notably suffered multiple flash loan attacks in its history, losing $37.5 million in February and then another $6 million in August.

This will bring the total amount of funds stolen in DeFi attacks to $500 million (graph not yet updated).

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