Cream Finance (CREAM) Attacked! Token Price Is Falling!
The popular DeFi project, Cream Finance (CREAM) has been hacked. After the attack, the price of the project’s token CREAM fell.
We are aware of a potential exploit and are looking into this. Thank you for your support as we investigate.
— Cream Finance ? (@CreamdotFinance) February 13, 2021
Cream Finance made a statement after the attack and stated that they were doing research. The following expressions were used in the statement:
“We are aware of a potential abuse and we are dealing with it. Thank you for your support while we researched.
Sharp Drop in CREAM’s Price
After the possibility of a possible attack, there was a serious decrease in CREAM, the token of the DeFi project. CREAM has lost value by 25% in the last hour and 16% in the last day, according to Coingecko data. CREAM was trading at $ 225 at the time of writing.
What is CREAM Finance?
CREAM Finance is a decentralized peer-to-peer (P2P) DeFi platform that provides lending, borrowing, exchange, payment and tokenization services for digital assets. The Cream Finance protocol was created as a Compound Finance fork and is based on the CREAM SWAP, Balancer Labs code.