The DeFi Security Project Has Solved the Cream Finance Hack!


Close to $ 19 million in crypto money was stolen in the attack that occurred in August. 5.152 of Lossless stolen assets, which provides security services for decentralized finance projects (DeFi) Ethereum (ETH) he saved as much as. In addition, cyber security support will be provided to Cream Finance to prevent new attacks on the platform.

The Losses Were Recovered

The cybersecurity company confirmed today that it has been helped with the Cream Finance project by Pascal Caversaccio. The attack in August was worth a total of $19 million ETH and AMPthe token it was stolen. DeFi the company said in a statement at the time that all losses would be covered by the company.

In a statement, Lossless announced that the stolen assets were recovered thanks to the extensive connections of the security company.

Losslessthe chief business development officer of Dominykas A. van Otterlo commented on the recovery process:

“We managed to find the hacker manually and get the stolen funds for CREAM Finance. You can say that this is a kind of cyber detective work. Yes, it’s not an easy task, it takes time to track down hackers”.

DeFi-oriented cyber security his company is developing a new tool to prevent such attacks.

Fashion Shows and Hacking Events

We have witnessed a serious number of fashion show hacking incidents this year. The fact that many projects have started to provide services with inexperienced developers, and DeFi his haste to get a share of his popularity has led to some weaknesses. Many projects could not compensate for the losses.

But it’s also time to approach these problems in a more professional way. That is why blockchain-oriented cybersecurity formations are becoming popular. Lossless was one of the first in this field, and half of the assets it saved were given to them as a reward.

Who started to follow the path followed by many global brands DeFi their project also started organizing ”bug bounty” events. Belt Finance has implemented it, and recently Alexander Schlindwein received a $ 1.05 million reward from here. The fact that more DeFi projects are receiving support from white hat hackers could make the DeFi ecosystem more secure.

The last great DeFi the attack Poly Network an exposed and $600 million worth of crypto currency fell into the hands of a hacker with a white hat. After that, the attacker returned all assets as a sign of good faith.

You can follow our news on our Telegram channel, Instagram, Facebook, Twitter accounts and Youtube channel.