Crema Finance hacked for $8.8 million, most returned

Solana liquidity protocol Crema Finance was exploited for around 69,500 SOL (~$2.3 million) and around $6.5 million worth of stablecoins for a total loss of around $8.8 million in notional value. The hacker then swapped the stablecoins for Ethereum via Uniswap.

Crema Finance sent a message to the hacker via Ethereum transaction, writing that "you have 72h from now to consider becoming a white hat and keeping $800k as the bounty... Otherwise the police and legal force will officially get involved and there will be endless tracing waiting for you." On July 6, Crema announced that they had reached an agreement with the hacker, who returned most of the funds and kept 45,455 SOL ($1.68 million) as a "bounty".

Crema Finance is not to be confused with C.R.E.A.M. Finance, a crypto lending service that was hacked three separate times in 2021 for a total of nearly $200 million.