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Defi security project 'Lossless' helps recover $16.7M from Cream Finance hack
Lossless also plans to ship a security tool that will reportedly aid Defi projects in preventing hacks and exploits on their platforms.
Lossless, a decentralized finance (Defi) security outfit, has assisted in the recovery of 5,152.6 Ether (ETH) siphoned during the Cream Finance exploit that occurred in August.
Tweeting on Monday, Lossless identified white hat security expert Pascal Caversaccio as being pivotal to the successful recovery of the siphoned funds.
As previously reported by Cointelegraph, Defi lending protocol, Cream Finance suffered a flash loan attack to the tune of $19 million in ETH and Amp tokens back in August. Following the exploit, Cream stated that it would repay the siphoned funds via fees collected on the protocol to compensate affected users.
Defi security project 'Lossless' helps recover $16.7M from Cream Finance hack
Lossless also plans to ship a security tool that will reportedly aid Defi projects in preventing hacks and exploits on their platforms.
Lossless, a decentralized finance (Defi) security outfit, has assisted in the recovery of 5,152.6 Ether (ETH) siphoned during the Cream Finance exploit that occurred in August.
Tweeting on Monday, Lossless identified white hat security expert Pascal Caversaccio as being pivotal to the successful recovery of the siphoned funds.
As previously reported by Cointelegraph, Defi lending protocol, Cream Finance suffered a flash loan attack to the tune of $19 million in ETH and Amp tokens back in August. Following the exploit, Cream stated that it would repay the siphoned funds via fees collected on the protocol to compensate affected users.