CREAM Lending
Summary
C.R.E.A.M. Finance (Crypto Rules Everything Around Me) is a decentralized lending and borrowing protocol launched in August 2020, forked from Compound Finance. The protocol suffered three major exploits in 2021 totaling approximately $185 million in losses, making it one of the most frequently and severely hacked DeFi protocols in history. On-chain investigator ZachXBT flagged the protocol and its founders, and the CREAM token has collapsed more than 99% from its all-time high.
Connected Entities
1 entities- + 1 more
Timeline(12 events)
2020-08-03
CREAM Finance launches on Ethereum, forked from Compound Finance, co-founded by Jeffrey Huang and Leo Cheng.
2021-02-04
CREAM token reaches all-time high of $373.16.
2021-02-13
Hack 1: CREAM Finance Iron Bank exploited via Alpha Homora V2 uncollateralized lending vulnerability. Approximately $37.5 million lost across ETH, USDC, USDT, and DAI. CREAM and ALPHA tokens fall ~30%.
2021-08-30
Hack 2: CREAM Finance exploited via ERC-777 reentrancy vulnerability in AMP token integration. Approximately 2,804 ETH and 462 million AMP tokens drained, worth $18.8–25 million. AMP token price falls ~15%.
2021-10-27
Hack 3: CREAM Finance suffers largest exploit — approximately $130 million drained via flash loan oracle price manipulation against yUSDVault. Third-largest DeFi hack recorded at the time. CREAM token falls over 30%.
2021-10-27
CREAM Finance posts on-chain message to attacker: 'you win. we're rekt. please return funds.' A 10% bounty offer yields no recovery.
2021-11-14
CREAM announces hack compensation plan: 1.45 million CREAM tokens to be issued from treasury, dramatically expanding circulating supply. Token drops from ~$88 to ~$51.
2022-06-16
ZachXBT publishes article alleging CREAM co-founder Jeffrey Huang (Machi Big Brother) misappropriated 22,000 ETH from Formosa Financial. ZachXBT retracted this allegation in August 2023.
2022-09-12
CoinDesk reports CREAM Finance exploiter converts $1.75 million in stolen funds to Bitcoin, indicating laundering activity continues more than a year after the October 2021 hack.
2023-06-17
Jeffrey Huang files defamation lawsuit against ZachXBT over the June 2022 article.
2023-08-15
Huang withdraws his defamation lawsuit against ZachXBT by mutual agreement. ZachXBT amends the article, removing the misappropriation allegation and the 'ten failed projects' claim. No court ruling was made on the merits.
2025-12-30
CREAM token reaches all-time low of approximately $0.71, down more than 99.8% from its 2021 peak.
Decision Log
- hash: EWVe2GrDCwHNK41GBELdxcitoQRscqv88iheSFtFcmJL
This investigation is cryptographically anchored to the Solana blockchain (1 event).
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:54 AM
last updated: 8/13/2026, 12:54:29 AM
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