August 30th Crypto News to Know: $19M stolen from Cream Finance, Twitter CEO Jack Dorsey plans to build a decentralized bitcoin exchange, Steph Curry picks up NFT, & more.
Market Color di The CrossTower Team
Note sull'episodio
Our CrossTower Research Analyst, Martin Gaspar, talks latest and greatest crypto news and market trends. Tune in and learn more about:
Cream Finance, a major decentralized finance (DeFi) protocol focused on lending, has suffered a severe exploit, with a hacker stealing nearly $19 million from its platform, according to CoinTelegraph.
An unknown hacker has managed to gain $18.8 million in the latest flash loan exploit of the Cream Finance protocol through a reentrancy bug introduced by the Amp token, according to an investigation by blockchain security firm PeckShield.
Announcing the news Monday, Cream Finance said that the protocol has stopped the exploit by pausing supply and borrow contracts on the Amp token. “No other markets were affected,” Cream Finance stated.
PeckShield specified t ...