{"id":147846,"date":"2021-10-27T21:12:23","date_gmt":"2021-10-27T15:42:23","guid":{"rendered":"https:\/\/www.www.bullfrag.com\/cream-finance-appears-to-have-suffered-heavy-losses-in-a-flash-loan-attack\/"},"modified":"2021-10-27T21:12:23","modified_gmt":"2021-10-27T15:42:23","slug":"cream-finance-appears-to-have-suffered-heavy-losses-in-a-flash-loan-attack","status":"publish","type":"post","link":"https:\/\/www.bullfrag.com\/cream-finance-appears-to-have-suffered-heavy-losses-in-a-flash-loan-attack\/","title":{"rendered":"Cream Finance appears to have suffered heavy losses in a flash loan attack"},"content":{"rendered":"<p><\/p>\n<div data-v-128018ef=\"\">\n<p><strong>Decentralized lending platform Cream Finance appears to have suffered a serious exploit on Wednesday, with an attacker stealing more than $ 100 million in funds via a major flash loan attack. <\/strong><\/p>\n<p>Blockchain data analytics firm PeckShield first identified the instant loan attack on Wednesday. <strong>The committed funds were primarily Cream liquidity tokens, as well as other Ethereum-based tokens.<\/strong><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"und\"><a href=\"https:\/\/twitter.com\/hashtag\/FlashLoanAlert?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"noopener noreferrer nofollow\" target=\"_blank\">#FlashLoanAlert<\/a> https:\/\/t.co\/XzAvHqoINN<\/p>\n<p>&#8211; PeckShield Inc. (@peckshield) <a href=\"https:\/\/twitter.com\/peckshield\/status\/1453364046904786950?ref_src=twsrc%5Etfw\" rel=\"noopener noreferrer nofollow\" target=\"_blank\">October 27, 2021<\/a>\n<\/p><\/blockquote>\n<p><strong>During a flash loan attack, an attacker exploits vulnerable smart contracts to create his own arbitrage opportunity.<\/strong> Typically, this is done by modifying the relative value of a trading pair by flooding the contract using its borrowed tokens.<\/p>\n<p><strong>Cream Finance has been a routine target of attackers, as evidenced by the $ 19 million hack of a protocol flash loan in August.<\/strong> As Cointelegraph reported at the time, the attack was facilitated by a reentry bug introduced by the Amp token.<\/p>\n<p><em>This story is still in development. <\/em><\/p>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Decentralized lending platform Cream Finance appears to have suffered a serious exploit on Wednesday, with an attacker stealing more than $ 100 million in funds via a major flash loan attack. Blockchain data analytics firm PeckShield first identified the instant loan attack on Wednesday. The committed funds were primarily Cream liquidity tokens, as well as<\/p>\n","protected":false},"author":63,"featured_media":147847,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3394],"tags":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTAvOGJhN2Y1MjUtMTQ0MC00MjdlLWFjOWEtZmI2NjBmY2UxNWNmLmpwZw==.jpg","_links":{"self":[{"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/posts\/147846"}],"collection":[{"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/users\/63"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/comments?post=147846"}],"version-history":[{"count":0,"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/posts\/147846\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/media\/147847"}],"wp:attachment":[{"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/media?parent=147846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/categories?post=147846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/tags?post=147846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}