• Bitcoin
  • Altcoins
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Market Cap
What's Hot

Terra CEO Do Kwon Arrested In Montenegro Airport

2023-03-23

Coinbase CEO sells shares prior to SEC warning

2023-03-23

Bitcoin $100,000 A Possibility Be Year End Says Gemini Executive

2023-03-23
Facebook Twitter Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
Facebook Twitter Instagram
The Crypto News Insider
  • Bitcoin

    Terra CEO Do Kwon Arrested In Montenegro Airport

    2023-03-23

    Bitcoin $100,000 A Possibility Be Year End Says Gemini Executive

    2023-03-23

    Elon Musk, Bill Ackman, Balaji, Cathie Wood Outrage Over US Fed

    2023-03-23

    Crypto Market Mixed As US Fed Hikes Interest Rate By 25 bps

    2023-03-22

    BitMEX Founder Arthur Hayes Believes Bitcoin Can Cross $1 Million Mark

    2023-03-22
  • Altcoins

    SHIB enters critical zone, Shibarium beta launch might happen this week?

    2023-02-19

    Is Ethereum [ETH] setting up a big show ahead of Shanghai upgrade? 

    2023-02-19

    Shibarium Beta To Go Live Next Week: Rumors or Reality?

    2023-02-19

    Helium to migrate to Solana on this date, here’s how HNT reacted

    2023-02-19

    ETH tests 5-month high as whales retain this % of supply, more inside

    2023-02-19
  • NFT

    U.S. IRS Considers Taxing NFTs Like Other Collectibles

    2023-03-21

    IRS Seeks to Tax NFTs Like Other Collectibles

    2023-03-21

    Sony Interactive Entertainment files for NFT patent

    2023-03-21

    concerns of wash trading surface

    2023-03-21

    Snoop Dogg’s Iconic NFT Collection Unveiled by Clay Nation

    2023-03-21
  • Metaverse

    Exploring the Metaverse: A Guide to Investing in Metaverse Stocks

    2023-03-20

    A Guide to Virtual Land Staking in the Metaverse

    2023-03-20

    Nissan Doubles Down on Web3 Innovation

    2023-03-13

    As Fashion Moves into the Metaverse, What Other Industries Could Be Next

    2023-03-13

    South Korea Launches New ‘Metaverse Fund’

    2023-03-13
  • Analysis

    Coinbase CEO sells shares prior to SEC warning

    2023-03-23

    Top Crypto Analyst Turns Bullish on Ethereum Rival That’s Up 135% This Year

    2023-03-23

    6 Ethereum Altcoins Targeted By SEC Ahead of Coinbase Wells Notice

    2023-03-23

    Bitcoin breaks below $26.7K; liquidations rise over $230M in 24hrs

    2023-03-22

    Ripple Relocates 120,000,000 XRP After 35% Rally This Week: On-Chain Data

    2023-03-22
  • Learn

    Chart Patterns Cheat Sheet For Technical Analysis

    2023-03-21

    Best NFT Wallets in 2023

    2023-03-21

    Top 10 Best Ethereum Wallets 2023

    2023-03-18

    What are Dapps (Decentralized Applications) Crypto?

    2023-03-17

    How to Short Sell Bitcoin

    2023-03-17
  • Market Cap
The Crypto News Insider
Home»Uncategorized»Crema Finance shuts liquidity protocol on Solana amid hack investigation
Uncategorized

Crema Finance shuts liquidity protocol on Solana amid hack investigation

2022-07-03Updated:2022-07-04No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Crema Finance, a concentrated liquidity protocol over the Solana blockchain, introduced the short-term suspension of its providers owing to a profitable exploit that has drained a considerable however undisclosed quantity of funds.

Quickly after realizing the hack on its protocol, Crema Finance suspended the liquidity providers to chorus the hacker from draining out its liquidity reserves — which embrace the funds of the service supplier and buyers.

Consideration! Our protocol appears to have simply skilled a hacking. We quickly suspended this system and are investigating it. Updates can be shared right here ASAP.

— CremaFinance (@Crema_Finance) July 3, 2022

Talking to Cointelegraph in regards to the matter, Henry Du, the co-founder of Crema Finance, confirmed the graduation of the investigation. He acknowledged:

“We’re working with some safety firms and acquired assist from Solana, Solscan and Etherscan and so on. We are going to proceed to publish any replace through official Twitter account.”

Whereas the corporate has but to supply an replace primarily based on an investigation that was ongoing on the time of writing, the Crypto Twitter neighborhood took it to themselves to trace down the hacker’s pockets and achieve a greater understanding of the scenario. 

Primarily based on a private investigation, crypto neighborhood member @HarveyMackinto2 allegedly noticed the hacker’s pockets deal with. The deal with in query holds 69,422.89 Solana (SOL) tokens — roughly over $2.3 million — procured via a collection of transactions over a number of hours.

Different members of the crypto neighborhood, nevertheless, suspect the hacker made away with 90% of the overall liquidity from a few of Crema Finance’s swimming pools. Du, too, confirmed that each one the features of the protocol have been suspended indefinitely and requested buyers to remain tuned for additional data within the type of an replace.

See also  Cryptex Finance to Soon Deliver NFT Index Token JPEGz

Readers should be aware that Crema Finance just isn’t associated to Cream Finance, a decentralized finance DeFi lending protocol, that additionally misplaced $19 million in a flash mortgage hack final yr. 

Associated: Notorious North Korean hacker group recognized as suspect for $100M Concord assault

North Korean hacking syndicate — the Lazarus Group — has develop into the first suspect of a latest assault that made away $100 million from the Concord protocol.

Investigations from blockchain evaluation agency Elliptic claimed the involvement of North Korea primarily based on the laundering strategies of the stolen funds:

“There are robust indications that North Korea’s Lazarus Group could also be answerable for this theft, primarily based on the character of the hack and the following laundering of the stolen funds.”

Source link

Crema Finance Hack investigation liquidity Protocol shuts Solana
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Analyst Known for Calling Crypto Bottoms Predicts Breakout for Ethereum, Says Solana Primed for New Rallies

2023-03-21

Bitcoin spikes to 9-month high as central banks increase liquidity to mitigate banking crisis

2023-03-20

Origin Protocol Considers Subsidizing OGN Rewards After Joining NFT Royalty Wars

2023-03-20

Top Decentralized Exchange Built on Solana (SOL) To Ban US Customers From Trading Amid Regulatory Uncertainty

2023-03-17
Add A Comment

Leave A Reply Cancel Reply

Top Posts

TOTHEMOON to distribute Resource Deed NFTs after 30 days of staking Resource Tokens

2022-09-07

Ethereum: This underestimated asset may be ETH’s savior in the days to come

2022-10-03

The Sandbox Mega City 2 Land Sale Starts April 28

2022-06-15

Subscribe to Updates

Get the latest news and Update from Thecryptonewsinsider.com about Crypto, Metaverse and NFT.

About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, NFT, Metaverse and more.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Top Insights

Terra CEO Do Kwon Arrested In Montenegro Airport

2023-03-23

Coinbase CEO sells shares prior to SEC warning

2023-03-23

Bitcoin $100,000 A Possibility Be Year End Says Gemini Executive

2023-03-23
Get Informed

Subscribe to Updates

Get the latest news and Update from Thecryptonewsinsider.com about Crypto, Metaverse and NFT.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
© 2023 Thecryptonewsinsider.com. - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$27,576.00-3.46%
  • ethereumEthereum(ETH)$1,759.63-2.93%
  • USDEXUSDEX(USDEX)$1.08-0.31%
  • tetherTether(USDT)$1.01-0.06%
  • binancecoinBNB(BNB)$325.05-1.34%
  • usd-coinUSD Coin(USDC)$1.000.09%
  • rippleXRP(XRP)$0.443651-1.00%
  • cardanoCardano(ADA)$0.371344-2.14%
  • dogecoinDogecoin(DOGE)$0.0768261.77%
  • staked-etherLido Staked Ether(STETH)$1,756.03-3.05%
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage vendors Read more about these purposes
View preferences
{title} {title} {title}