DeFi Protocols Cream Finance, Alpha Exploited in Flash Loan Attack; $37.5M Lost
Alpha Finance says the "loophole" has been patched.
Andre Cronje interviewed at Seoul Blockchain Week, 2019.(CryptoZombie Fund)details on Etherscan.DeFi Protocols Cream Finance, Alpha Exploited in Flash Loan Attack; $37.5M Lost
Two hours later Cream Finance said its contracts were “functioning as normal” and markets had been enabled.
Alpha Finance then posted its own announcement, saying its Alpha Homora V2 product was the root cause. The company confirmed that it is working with DeFi guru Andre Cronje and Cream Finance to investigate the incident, and that the loophole had been fixed. It also said that they “have a prime suspect” in mind.
Earlier, Cream Finance tweeted an update on the incident saying that asset borrowing from its recently launched Iron Bank lending feature had been suspended. That tweet has since been deleted.
