--- title: "Loss of $8.78 million worth of cryptocurrency in hack attack; Crema Finance" description: "Cryptocurrency has always attached to the cyber attack an a hub for the cyber crime more recently Crema Finance loss $8.78 million in a hack." author: "Sanjay Goenka" published: 2022-07-04 canonical: https://www.mindstick.com/news/1717/loss-of-8-78-million-worth-of-cryptocurrency-in-hack-attack-crema-finance category: "cryptocurrency" tags: ["cryptocurrency exchange platform", "cryptocurrency"] reading_time: 2 minutes --- # Loss of $8.78 million worth of cryptocurrency in hack attack; Crema Finance Crema Finance lost $8.78 million worth of [cryptocurrency](https://www.mindstick.com/Category/news/cryptocurrency) in a hack attack. Hackers used a [smart contract](https://www.mindstick.com/articles/126246/smart-contract-development-in-usa) and used it to lend a flash loan and validate liquidity. ## Highlights ``` Crema has asked for help as a team from relevant security agencies hacker swapped stolen fund into SOL 69422.9 and USDCet Crema Finance was launched this year on January ``` Also Read: [Grayscale Sues SEC for Blocking Bitcoin](https://www.mindstick.com/news/1702/grayscale-sues-sec-for-blocking-bitcoin) A liquidity protocol based on [blockchain](https://www.mindstick.com/news/1523/maharashtra-gives-caste-certificate-on-polygon-blockchain-under-digital-india-initiation), Crema Finance lost a big amount of crypto assets this weekend after a breached hack attack. Hacker used a smart [technique](https://answers.mindstick.com/qa/93922/why-c-sharp-programmers-use-properties-technique-in-c-sharp-programming) to take out her assets, he developed a smart contract and used it to lend a flesh loans and validity liquidity. The leaked amount was worth **$7.78 million** (Rs. 69 Crore) and later on, the contract was suspended to avoid the loss of more funds. The [developers](https://www.mindstick.com/articles/12875/blunders-you-must-avoid-while-hiring-java-developers-to-get-the-best-fulfilling-your-needs) of Crema Finance have not disclosed the details about the breach on Twitter. The tweet was “The hacker swapped the stolen fund into **SOL 69422.9 and USDCet 6,497,738 via Jupiter**. The USDCet was then bridged to the Ethereum network via Wormhole and swapped to ETH 6064 via Uniswap after that,” which was revealed by the Crema Finance team to elaborate the tweet. The company noted “we are still open to [communication](https://www.mindstick.com/articles/126321/5-fails-and-fixes-of-the-office-communication) with the hacker before the time window is closed. Now we are working on the [technical](https://www.mindstick.com/articles/12830/a-look-at-the-technical-features-and-specifications-of-type-c-hub) fixing and fund tracing simultaneously. A contract will be resumed with the issue fixed after the [investigation](https://www.mindstick.com/news/2149/twitter-claims-in-court-that-elon-musk-is-the-subject-of-government-investigations) is all done and a resolvent plan is made,” said a comment. Also Read: [Bitcoin, Ether have Slipped Down after Long Time](https://www.mindstick.com/news/1681/bitcoin-ether-have-slipped-down-after-long-time) --- Original Source: https://www.mindstick.com/news/1717/loss-of-8-78-million-worth-of-cryptocurrency-in-hack-attack-crema-finance Copyright © MindStick Software Pvt. Ltd. This Markdown version is provided for developers, AI systems, and offline reading.