The recent Crema Finance hack pt.2

8 Jul 2022

After the realization of the hack, the team had to make a tweet about the incidence and that they were gonna o all their best to recover the funds.

With the help of some protocols, Crema began the hunt for their hacker, this definitely wasn't an easy task for the Crema team and its helpers.

Gradually, they were able to blackist the wallet address of the hacker and they kept tracking very transaction that was made.

Crema Finance had to give the hacker 72 hours to refund the cash or they would report the case to higher authorities, well did this really help? I guess not.

At some point, they dropped an on chain message to the hacker, that He should keep about $800K as a white hack reward hoping they hacker would accept the huge offer, well later the hacker replied saying He wants to negotiate

In the end, the hacker was given $1.5M in $SOL and he refunded the remaining funds. 

Well, luckily, Crema Finance was able to recover the funds.

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1 Comment

Hacks dont always have a positive impact on a protocol and in some cases, the project may never recover from the hack. I feel crypto projects just need to pay attention to the security of their protocol especially when liquidit is involved