Defi Platform Cream Finance Hacked, $29 Million Lost

Defi Platform Cream Finance Hacked, $29 Million Lost


Cream finance, a defi borrowing and lending protocol, has been the victim of a hack that erased more than $29 million from its vaults. The attacker took advantage of a loophole in the implementation for adding the amp token to the protocol. This is the second time the platform has been involved in a hack. The first breach happened in February, when Cream lost $37.5 million.

Cream Protocol Suffers Hack

Cream protocol, a defi lending-borrowing platform present on four different chains (Ethereum, BSC, Polygon, and Fantom), suffered a hack Monday that resulted in the loss of $29 million in several cryptocurrencies. The attacker took advantage of a bug caused by the introduction of the amp token into the protocol. According to Peckshield, a blockchain security and data analytics company, the hack was perpetrated in just one transaction, taking advantage of a reentrancy bug present in the code of the amp currency.

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This allowed the hacker to re-borrow assets during

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