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Decentralized finance project Crema Finance suspends liquidity services after being hacked

Decentralized finance project Crema Finance suspends liquidity services after being hacked

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Answer Decentralized finance project Crema Finance suspends liquidity services after being hacked

Project Crema Finance, a decentralized finance protocol built on the Solana blockchain, has suspended its services after it suffered a $6 million hack, according to the project management’s tweet on Twitter.

According to data provided by independent security research firm OtterSec, the attack was carried out with the help of Solend flashloans.

The address allegedly belonging to the hacker has been blacklisted, and a reward of $800,000 has been offered for the return of the stolen money.

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Hackers are given 72 hours to progress to becoming a white hat hacker instead of being tagged with black hats and criminals.

After the time limit expires, Crema Finance threatens to contact legal authorities and launch a formal investigation in order to identify the hackers.

Last month, Crema Finance successfully closed a $5.4 million funding round.

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