{"id":470043,"date":"2022-07-03T08:08:01","date_gmt":"2022-07-03T05:08:01","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/crema-finance-shuts-liquidity-protocol-on-solana-amid-hack-investigation\/"},"modified":"2022-07-03T08:08:01","modified_gmt":"2022-07-03T05:08:01","slug":"crema-finance-shuts-liquidity-protocol-on-solana-amid-hack-investigation","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/crema-finance-shuts-liquidity-protocol-on-solana-amid-hack-investigation\/","title":{"rendered":"# Crema Finance shuts liquidity protocol on Solana amid hack investigation"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3c6de58c074\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3c6de58c074\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/crema-finance-shuts-liquidity-protocol-on-solana-amid-hack-investigation\/#%E2%80%9D_Crema_Finance_shuts_liquidity_protocol_on_Solana_amid_hack_investigation_%E2%80%9C\" >&#8221; Crema Finance shuts liquidity protocol on Solana amid hack investigation &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Crema_Finance_shuts_liquidity_protocol_on_Solana_amid_hack_investigation_%E2%80%9C\"><\/span>&#8221; Crema Finance shuts liquidity protocol on Solana amid hack investigation &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Crema Finance, a concentrated liquidity protocol over the Solana blockchain, announced the temporary suspension of its services owing to a successful exploit that has drained a substantial but undisclosed amount of funds.<\/p>\n<p>Soon after realizing the hack on its protocol, Crema Finance suspended the liquidity services to refrain the hacker from draining out its liquidity reserves \u2014 which include the funds of the service provider and investors.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Attention! Our protocol seems to have just experienced a hacking. We temporarily suspended the program and are investigating it. Updates will be shared here ASAP.<\/p>\n<p>\u2014 CremaFinance (@Crema_Finance) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Crema_Finance\/status\/1543416225622941696?ref_src=twsrc%5Etfw\">July 3, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nWhile the company is yet to provide an update based on an investigation that was ongoing at the time of writing, the Crypto <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> community took it to themselves to track down the hacker\u2019s wallet and gain a better understanding of the situation.\u00a0<\/p>\n<p>Based on a personal investigation, crypto community member @HarveyMackinto2 allegedly spotted the hacker\u2019s wallet <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/explorer.solana.com\/address\/Esmx2QjmDZMjJ15yBJ2nhqisjEt7Gqro4jSkofdoVsvY\">address<\/a>. The address in question holds 69,422.89 Solana (SOL) tokens \u2014 roughly over $2.3 million, procured through a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of transactions over several hours.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/10f95b05-839a-4db1-9b35-70629c47eeb4.png\"><\/figure>\n<p>Other members of the crypto community, however, suspect the hacker made away with 90% of the total liquidity from some of Crema Finance\u2019s pools. Henry Du, the co-founder of Crema Finance, too, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/HenryCanFly\/status\/1543419621663186945?s=20&amp;t=gHYjKMx_VPA11cVMZPmXRQ\">confirmed<\/a> that all the functions of the protocol have been suspended indefinitely and asked investors to stay tuned for further information in the form of an update.<\/p>\n<p>Readers must note that Crema Finance is not related to Cream Finance, a decentralized finance DeFi lending protocol, that also lost $19 million in a flash loan hack last year. Crema Finance has not yet responded to Cointelegraph\u2019s request for comment. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Infamous North Korean hacker group identified as suspect for $100M Harmony attack<\/em><\/strong><\/p>\n<p>North Korean hacking syndicate \u2014 the Lazarus Group \u2014 has become the primary suspect of a recent attack that made away $100 million from the Harmony protocol. <\/p>\n<p>Investigations from blockchain analysis firm Elliptic claimed the involvement of North Korea based on the laundering methods of the stolen funds:<\/p>\n<blockquote><p>\u201cThere are strong indications that North Korea\u2019s Lazarus Group may be responsible for this theft, based on the nature of the hack and the subsequent laundering of the stolen funds.\u201d<\/p><\/blockquote>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/crema-finance-shuts-liquidity-protocol-on-solana-amid-hack-investigation\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Crema Finance shuts liquidity protocol on Solana amid hack investigation &#8220; Crema Finance, a concentrated liquidity protocol over the Solana blockchain, announced the temporary suspension of its services owing to a successful exploit that has drained a substantial but undisclosed amount of funds. Soon after realizing the hack on its protocol, Crema Finance suspended&#8230;<\/p>\n","protected":false},"author":1,"featured_media":470044,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvODFjZDVlNzctNTdhZi00MzlkLWIyYTktMDFlYTlmOTIwNjdjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74894,74983,122547,74882,107545,92498,117,70944],"class_list":["post-470043","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-blockchain","tag-decentralization","tag-exp-attack","tag-hacks","tag-liquidity","tag-solana","tag-business","tag-hackers"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/470043","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=470043"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/470043\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/470044"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=470043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=470043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=470043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}