Cream Finance

avoid.net/cream-finance→12/100·92% conf.

[AI-DRAFTED · AWAITING VERIFICATION]

12/100

[CRITICAL]92% conf.

Summary

C.R.E.A.M. Finance is a decentralized lending protocol that launched on Ethereum in August 2020, originally forked from Compound Finance. The protocol suffered three major exploits across 2021, losing approximately $186 million in total user funds, and has been effectively dormant since early 2022 with minimal development activity and a TVL that collapsed from over $2 billion to under $3 million.

Connected Entities

1 entities · 10 linked investigations

Protocols

⌂Cream Finance

Relationships

Also appears in

Gamma Strategies·28 BitGrail·2 Shunda Park Scam Compound·0 Thorchain DEX·14 Orca·85 KuCoin Exchange Hack·32 Zircon Gamma·32 CryptoZoo·8 Value DeFi Protocol·18 Evolved Apes NFT·2

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Timeline(10 events)

2020-08-01

C.R.E.A.M. Finance launches on Ethereum, forked from Compound Finance. Jeffrey Huang and Leo Cheng are founders.

C.R.E.A.M. Finance Medium

2021-02-04

CREAM governance token reaches all-time high of approximately $368.

CoinMarketCap

2021-02-13

First major exploit: Iron Bank and Alpha Homora V2 attacked via flash loan, approximately $37.5 million stolen. Largest flash loan exploit on record at the time.

CoinDesk

2021-08-30

Second exploit: AMP token ERC-777 reentrancy bug exploited across 17 transactions, draining 2,804.96 ETH and 462,079,976 AMP tokens (~$18.8M). A copycat attacker exploits the same unfixed vulnerability in the same period.

CoinDesk

2021-10-27

Third and largest exploit: yUSD oracle price manipulation via flash-borrowed DAI and ETH allows attacker to drain approximately $130 million across 68 asset types. Largest DeFi flash loan hack recorded at the time.

Bloomberg

2021-11-01

C.R.E.A.M. team announces repayment plan: 1,453,415 CREAM tokens (entire team allocation) distributed to exploit victims. CREAM price declines sharply on the news.

The Defiant

2022-06-01

ZachXBT publishes investigation alleging founder Jeffrey Huang embezzled approximately 22,000 ETH from the Formosa Financial ICO treasury and orchestrated fake voting in the 2018 Binance listing competition for Mithril.

ZachXBT / Medium

2022-09-12

October 2021 exploit attacker converts $1.75 million in stolen funds to Bitcoin; the majority of the $130M remains unrecovered.

CoinDesk

2023-01-01

Jeffrey Huang drops defamation lawsuit against ZachXBT over the June 2022 article.

Blockworks

2023-08-05

Last significant commit activity observed on Cream Finance GitHub repositories. Protocol enters effectively dormant state.

GitHub — CreamFi

Provenance & Audit Trail

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