Decentralized liquidity protocol team Crema Finance (Solana ecosystem) has stopped the implementation due to a hacker attack.
🚨🚨Attention! It looks like our protocol just experienced a hack. We have temporarily suspended the program and are investigating. Updates will be shared here as soon as possible.
— CremaFinance (@Crema_Finance) Jul 3, 2022
According to OtterSec analysts, the attackers withdrew nearly $6 million worth of digital assets from the project’s liquidity pools. The attack was carried out using instant loans on the Solend lending platform.
@Crema_Finance was recently hacked for more than $6 million. Unlike previous attacks, this hacker used Solend flash credits to drain the pool. We are working closely with the Crema team to help resolve this issue.
In the meantime, we’ll be sharing what we know about the abuse 🧵 pic.twitter.com/5NjovZtAEb
— OtterSec (@osec_io) Jul 3, 2022
Experts said they have discovered a vulnerability in the protocol that allows unknown persons to deposit funds and withdraw the relevant amount of assets, and receive additional tokens via the Claim order. To carry out the attack, the hackers placed their own smart contracts on the Solana network, which interacts with Crema Finance.
At the time of writing, 69,422 SOLs (~$2.28 million) are stored in the attackers’ default address.
Thank you 🙏 https://t.co/QbeCfSAkt7
— Henry | Crema Finance (@HenryCanFly) Jul 3, 2022
The Crema Finance team is investigating the case. The developers promised to reveal the details of the attack and the amount of damage later.
Recall that on June 24, a hacker stole about $ 100 million during an attack on the Horizon cross-chain bridge of the Harmony protocol.
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