Hackers Steal $18 Million From DeFi Protocol Cream Finance

Reading Time: < 1 minute

Decentralized protocol Cream Finance has fallen victim to an instant credit attack and has lost $18 million in Ethereum, crypto journalist Colin Wu has reported.

Two hackers have reportedly conducted a total of 17 transactions.

Blockchain security specialists PeckShield Inc. have reportedly identified the cause of the hack and have offered their help to the Cream Finance devs.

The DeFi protocol has not made any official statement about the attack yet.

Cream Finance suffered a similar attack in February, when an unknown attacker took advantage of a vulnerability in the Iron Bank protocol (the second version of the Cream Finance project) and stole $37.5 million in tokens.