April 24, 2025
Blockchain

Cream Finance hack turns $1.75 million stolen into bitcoin

  • September 13, 2022
  • 0

The attacker behind one of the Cream Finance DeFi protocol hacks carried $1.75 million in stolen funds. The MistTrack platform drew attention to this. 📢Cream Finance Flashloan Exploiter

Cream Finance hack turns .75 million stolen into bitcoin

Cream Finance hack turns $1.75 million stolen into bitcoin
Cream Finance hack turns $1.75 million stolen into bitcoin

The attacker behind one of the Cream Finance DeFi protocol hacks carried $1.75 million in stolen funds. The MistTrack platform drew attention to this.

The hacker exchanged 1000 ETH for 80 renBTC and then converted them into bitcoin.

In July, this address transferred over 300 renBTC stolen assets using the Rhine Gateway bridge.

In total, the wallet owner moved 607 BTC belonging to Cream Finance users.

Recall that in 2021 the DeFi protocol was hacked three times. In February, an unknown attacker exploited a vulnerability in Iron Bank (the second version of the Cream Finance project) and withdrew a total of $37.5 million in tokens.

In August the project was attacked with instant credit. Damage totaled 462,079,976 AMP and 2,804 ETH (more than $18M).

On September 8, the hacker transferred most of the stolen amount of 5152.6 ETH to the project’s multisig wallet.

In October, the developers of the protocol confirmed that they managed to return 5152.6 ETH. The hacker was allowed to retain 10% of the stolen funds – around 515 ETH as a reward for the discovered bug.

In the same month, an unidentified person withdrew $130 million from Cream Finance and used an instant loan as part of a complex transaction to do so.

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Source: Fork Log

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