News and Updates on Information Technology

The attackers stole $ 130 million worth of crypto assets from Cream Finance’s decentralized financial platform (DeFi).

Exploit: Cryptojacking (Misconfiguration)

C.R.E.A.M. Finance: Decentralized Lending Platform

cybersecurity news gauge indicating extreme risk

Risk to Business: 1.595 = Extreme

For the third time this year, cybercriminals have hit lending platform C.R.E.A.M. Finance, stealing cryptocurrency. This time, thieves made off with $130 million worth of cryptocurrency assets. According to the experts, the attackers have likely exploited a vulnerability in the platform’s flash loan feature, then transferred the stolen funds to a wallet under their control before splitting them through other wallets.  This is the third successful heist from the platform this year. Crooks jacked $29 million in August 2021 and $37 million in February 2021.

Individual Impact: No consumer PII or financial data exposure was disclosed in this incident as of press time.

Customers Impacted: Unknown

How it Could Affect Your Customers’ Business Cybercriminals are always hungry for cash and crypto is the currency that they prefer, so stealing it will continue to be a popular option.

Source: security affairs