Cream Finance aims to repay users affected by recent hack
Cream Finance, a decentralized finance (DeFi) protocol, will reimburse its users after an $18.8 million flash loan hack on Aug. 30. The DeFi protocol has identified the AMP integration error that caused the loss. Cream has released a post-mortem on the AMP flash loan hack , offering to replace the stolen Ether (ETH) and Amp […]
Several leading DeFi projects launch a $100 million worldwide adoption initiative
The DeFi program, which is based on the Celo ecosystem, was launched in response to the lack of inclusion and accessibility in the traditional financial markets, which it recognized. A consortium of major decentralized finance (DeFi) protocols today launched a joint $100 million financial inclusion endeavor named “DeFi for the People.” The initiative is the […]
Cream Finance’s DeFi platform suffers a $19 million loss as a result of a flash loan hack
Using a reentrancy issue in the AMP token, the Cream Finance hacker was able to profit by $18.8 million over the course of 17 transactions. In a huge exploit, Cream Finance , a major decentralized finance (DeFi) protocol focusing on lending, was targeted by a hacker who stole approximately $19 million from the platform’s cryptocurrency. […]
DeFi project xToken suffers a major second exploit since May
Hackers uncovered a vulnerability in the smart contracts for xToken’s xSNX product over the weekend. The exploit is approximately around $4.5 million and marks yet another attack to hit the decentralized financial project. The xToken team announced on Aug. 29 that the hack had drained around $4.5 million from the company’s xSNX platform, which allows […]
SEC reportedly contracts AnChain.AI analytics firm to monitor DeFi industry
According to reports, the US Securities and Exchange Commission has agreed to pay blockchain analytics firm AnChain.AI $125,000 to help monitor and regulate the decentralized finance industry. An AnChain.AI company spokesman confirmed the arrangement with the federal regulator to Forbes on Friday , adding the SEC and blockchain startup have the opportunity to sign up […]