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PeckShield reported through a tweet of the new hack on Cream Finance. The blockchain security company said a flash loan attack on the decentralized finance lending and borrowing protocol. #FlashLoanAlert https://t.co/JPW7e368qd — PeckShield Inc. (@peckshield) August 30, 2021 PeckShield explained that the hacking came through a 500 Ethereum flash loan from the attacker.
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Cream Finance, a major decentralized finance (DeFi) protocol focused on lending, has suffered a major exploit, with a hacker stealing nearly $19 million from its platform.An unknown hacker has managed to gain $18.8 million in the latest flash loan exploit of the Cream Finance protocol through a reentrancy bug introduced
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Gold prices have tanked during the Monday morning Asian trading session, compounding losses accumulated over the past week.On August 9, the price of gold quickly fell to its lowest level since March as a flash crash drove prices below $1,700/oz.According to Tradingview, the price of the precious yellow metal plunged
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A series of attacks compromised several Binance Smart Chain (BSC) projects in May. Following PancakeBunny, its three forks projects — AutoShark, Merlin Labs, and PancakeHunny — were also attacked using similar techniques. PancakeBunny suffered the most costly attack of the four, which saw nearly $45M in total damages. In this
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In May 2021, we witnessed multiple hacks targeting BSC DeFi products. In particular, a loophole related to reward minting in the yield aggregator, PancakeBunny, was exploited to mint ~7M BUNNY tokens from nothing, leading to a whopping $45M financial loss. After the bloody hack, three forked projects — AutoShark, Merlin
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Popular Binance Smart Chain-based decentralized finance protocol, PancakeBunny, has suffered a major exploit that allowed a hacker to make off with more than $200 million worth of crypto assets.According to a series of threads posted by the PancakeBunny team in the past hour, the protocol was subject to a flash
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In a press release today, C.R.E.A.M. Finance announced a new feature for (and, by proxy, an unofficial relaunch of) Iron Bank, the protocol-to-protocol lending platform designed for flash and undercollateralized loans. C.R.E.A.M., which founder Leo Cheng describes as “the yolo-est Compound fork,” is a money market designed to cover assets that
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A flash loan is relatively new type of uncollateralized lending that has become popular across a number of decentralized finance (DeFi) protocols based on the Ethereum network.These types of loans have made headlines recently because they have been used to exploit a number of vulnerable DeFi protocols, leading to millions
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Decentralized finance protocols (DeFi) Cream Finance and Alpha Finance were victims of one of the largest flash loan attacks ever Saturday morning resulting in a loss of funds totaling $37.5 million, according to transaction details on Etherscan. Two hours later Cream said its contracts were “functioning as normal” and
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