Crema Finance, a concentrated liquidity protocol over the Solana blockchain, announced the temporary suspension of its services owing to a successful exploit that has drained a substantial but undisclosed amount of funds.
Soon after realizing the hack on its protocol, Crema Finance suspended the liquidity services to refrain the hacker from draining out its liquidity reserves — which include the funds of the service provider and investors.
Attention! Our protocol seems to have just experienced a hacking. We temporarily suspended the program and are investigating it. Updates will be shared here ASAP.
— CremaFinance (@Crema_Finance) July 3, 2022
Speaking to Cointelegraph about the matter, Henry Du, the co-founder of Crema Finance confirmed the commencement of the investigation. He stated:
"We are working with some security companies and got support from Solana, Solscan and Etherscan etc. We will continue to post any update via official Twitter account."
While the company is yet to...
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