Cream Finance, a lending protocol based on the Ethereum network, has lost $130m of assets in one of the biggest DeFi thefts to date.

The company confirmed its lending markets had been targeted by a large flash loan transaction, a type of exploit which is frequently used by hackers to target vulnerabilities protocols.

The team confirmed the news on Twitter and insisited the issue had been fixed, but said lending would be paused.. It comes after the platform lost $38m to a hacker in February and $19m in August.

(c) 2021 City A.M., source Newspaper