According to the decentralized finance (defi) protocol Crema Finance, the application was hacked on July 2, 2022. A Twitter account called “Solanafm” says the defi protocol lost around $8.7 million from the attack.
Crema Finance Vulnerability Causes Defi App to Lose Millions — 6 Flashloans Executed
Another defi protocol has lost funds to a hacker as the Solana liquidity application disclosed it was attacked on Saturday, July 2, 2022.
“Attention,” Crema Finance wrote on Saturday. “Our protocol seems to have just experienced a hacking. We temporarily suspended the program and are investigating it. Updates will be shared here ASAP.”
Crema Finance is a concentrated liquidity market maker (CLMM) algorithm built on top of Solana and the Twitter account @solanafm explained the defi app suffered an exploit. “On 2nd July, a vulnerability in the ticks account caused an exploit on Crema Finance for a total amount of $8,782,446,” Solanafm tweeted.
“We worked closely with the Crema team...
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