Crypto asset hacking damage on the DeFi platform

Hackers reportedly stole $29 million worth of Ethereum and AMP tokens from the decentralized finance DeFi platform Cream.

The most recent case of hacking a decentralized financial platform is the theft of 680 billion won worth of crypto assets from Poly Network on August 10, 2021. At this time, the hacker said he was not interested in money and returned the stolen crypto assets in sequence, eventually returning the full amount.

According to security firm PeckShield, this Crime case was a re-entry attack using a flash loan, a short-term loan through the DeFi function. This is a known method used in the case where the DAO, an investment fund in 2016, worth 50 billion won was hacked.

According to the report, 76% of hacking cases in 2021 were related to the DeFi platform, and the damage was estimated at $474 million. It is said that most of the attacks were using the flash loan function, as in this case. Related information can be found here.



Through the monthly AHC PC and HowPC magazine era, he has watched 'technology age' in online IT media such as ZDNet, electronic newspaper Internet manager, editor of Consumer Journal Ivers, TechHolic publisher, and editor of Venture Square. I am curious about this market that is still full of vitality.

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