DeFi Protocol Cream Finance Loses $130 Million in Latest Hack
Oct. 27, 2021, 5:34 PM
DeFi protocol Cream Finance suffered yet another hack this year after an exploit stole at least $130 million in what could be one of the largest thefts in decentralized finance.
The attack on the Ethereum-based lending protocol was first reported by The Block Crypto, which cited a tweet by PeckShield Inc. highlighting a large flash-loan transaction that carried out the theft.
The burgeoning DeFi landscape has drawn in billions of dollars in investor funds, but it has been a frequent target by hackers, with many using flash loans — a type of uncollateralized lending — as a way to …
