Popular DeFi protocol CREAM Finance has been hacked. As a result, the token’s price dropped by about 30% in less than a few minutes.
Price Down 30%
CREAM Finance, one of the most popular projects in the Decentralized Finance (DeFi) space, has been hacked. The price of the CREAM token dropped 30% just minutes after the news broke.
CREAM Finance’s official Twitter account announced earlier today that the protocol was hacked.
“We are aware of a possible hack and we are dealing with it. Thank you for your support while we researched.
Although there is no official confirmation yet, many in the cryptocurrency community think the attackers managed to get around 13,000 ETH, which is a little less than $ 24 million.
A few hours ago, a user shared that someone was arbitrage on CREAM FINANCE’s Irob Bank contracts. He determined the following:
“It looks like a hack. It looks like he started off with 13,000 ETH. It seems that they have started sending out several ETH via Tornado Cash and sending 1,000 ETH to Alpha Homora Deployer, 1,000 ETH to Cream Finance and Tornado to send 100 ETH for the grant. “