Crema Finance suspends its services due to an exploit
The Crema Finance liquidity protocol on the Solana blockchain announced the suspension of its services due to an exploit.
After the protocol was hacked, Crema Finance announced that it was suspending the provision of liquidity services. While the company has not provided updated information based on the investigation that was ongoing at the time of writing, the Crypto Twitter community has taken on the task of tracking down the hacker's wallet.
A member of the crypto community @HarveyMackinto2 allegedly discovered the address hacker's wallet. It contains 69,422.89 Solana tokens, that is, over $2.3 million acquired as a result of a series of transactions.
At the same time, other members of the crypto community believe that a hacker was able to steal 90% of the total liquidity of some Crema Finance pools. Henry Du, co-founder of Crema Finance, confirmed that all protocol functions have been suspended indefinitely. He notified investors to monitor the incoming information.
Recall that Crema Finance is not related to Cream Finance, the decentralized financial lending protocol DeFi, which lost $19 million after it was hacked in 2021. It is not yet known to which group the hacker belongs. It has not yet been possible to find out whether he acted independently or is part of an organized group.
It is also worth pointing out that groups of hackers from North Korea are most often engaged in such attacks. The Lazarus Group syndicate is considered the main suspect in the recent attack, when more than $100 million was stolen from the Harmony protocol. In addition, the investigation of Elliptic, a blockchain analysis company, indicates North Korea's involvement in crimes in the field of cryptocurrencies. There are several thousand hackers working in the country, who are engaged in hacking protocols in order to replenish the budget of the DPRK.
Structures from the People's Republic of China, where several groups of hackers under the control of the government also work, help them in this unofficially. Often they coordinate their actions with each other in order to succeed. The Chinese authorities deny their involvement in such activities, and the DPRK does not comment on such news and accusations at all. The number of attacks on protocols and exchanges will continue to grow this year, as will the damage from them.
Author: Dan, analyst Сoin-signal.com Club
https://coin-signal.com/cryptonews/crema-finance-suspends-its-services-due-to-an-exploit/
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