Hackers hacked cryptocurrency platform running on the Solana blockchain

The developers of the decentralized finance (DeFi) project Crema Finance on the Solana blockchain have reported a hack of the platform, which has temporarily suspended the provision of services.

According to the project team, the incident is currently being investigated and possible losses are being determined. To do this, the developers are cooperating with OtterSec, a blockchain security company. According to some reports, the hackers managed to withdraw $ 6−9 million from Crema Finance.

According to security experts, the attackers used instant loans on the platform: «They used three instructions: DepositFixTokenType, Claim, and WithdrawAllTokenTypes. First, they deposited tokens and then simultaneously used the Claim and WithdrawAllTokenTypes instructions, thus doubling the tokens on their wallet.»

It seems that Solana is going through some hard times. At the end of June, representatives of the cryptocurrency lending platform Solend announced that they had set a borrowing limit of $ 50 million for each account and reduced the maximum number of liquidations — all because of the risk of a liquidity shortage and a possible collapse of the SOL cryptocurrency.