The recent Crema Finance hack

8 Jul 2022

As you would know, my favourite DEX on Solana is Crema Finance, too sad they had to be exploited by a hack some days back.

The past months have been really amazing for Crema Finance, they have seen a rise in TVL, and their Cumulative trading Volume has experienced a serious increase. 

Unfortunately, security was not at its 100% efficient and someone was able to find a loophole. According to reports, the hacker was able to use Solend, one of Crema Finance's partners to exploit them.

The summary of the hack is, that the hacker supplied a little token to the pool, and lied about what He/She supplied by using a phishing contract and the person was able to withdraw more than $8M from the Crema Finance liquidity pool. 

It was really a sad day for Crema Finance and they only realized they were hacked about 4hrs after it happened

Stay tuned for the continuation...

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