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Exploit Forces Crema Finance to Temporarily Suspend Services, $8.7 Million Stolen

According to the decentralized finance (defi) protocol Crema Finance, the application was hacked on July 2, 2022. A Twitter account called “Solanafm” says the defi protocol lost around $8.7 million from the attack.

Another defi protocol has lost funds to a hacker as the Solana liquidity application disclosed it was attacked on Saturday, July 2, 2022.

“Currently, all of the stolen funds are held in the hacker’s ETH wallet and [the] initial SOL wallet,” Solanafm’s Twitter thread concluded.

“The flashloan calls three key instructions on the Crema contract: ‘DepositFixTokenType,’ ‘Claim,’ and ‘WithdrawAllTokenTypes.’ The attacker is [then] able to deposit and then withdraw the same amount of tokens, while receiving additional tokens from the claim instruction,” Ottersec added.

What do you think about Crema Finance getting hacked for $8.7 million in crypto funds? Let us know what you think about this subject in the comments section below.


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