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🥷🏻 $19 Million Flash Loan Attack Hits Cream Finance

Learn the top crypto stories of the weekend in five minutes.

Hey Blockster, Here's today's top five stories. Scroll down to explore them all. Cream Finance Suffers $19 Million Flash Loan Attack Decentralized finance (DeFi) has been playing an important role in the cryptocurrency industry since it started to gain traction in 2020. However, while DeFi offers an alternative, democratic, and permissionless way for users to access financial services like lending and borrowing, attackers continuously seek new methods to exploit these services. Unfortunately, they have been successful this time. Cream Finance, a popular DeFi lending platform, has been recently hit with a nearly $19 million flash loan attack. According to the blockchain cybersecurity company that identified and revealed the attack, an unknown hacker exploited a smart contract bug related to the AMP token to steal the funds. In response to the attack, Cream Finance halted all borrow and supply AMP contracts to prevent further exploits. However, since other smart contracts were left untouched by the DeFi protocol, this decision doesn't impact activities that involve other cryptocurrencies. We highly recommend reading this Blockdesk article to learn more about the recent Cream Finance attack and the growing number of DeFi hacks. In the meantime, don't forget to follow the best practices of securing your cryptocurrency to prevent malicious parties from accessing your coins. Liked the article we covered earlier and want to read more? No worries, we have more exciting crypto stories for you! Could Medical Records Be moved To A Blockchain? 3 Reasons Why This Would Be Awesome – Blockchain technology is no longer limited to the crypto space. Among its benefits for medical records: a) Privacy and security, as data is impossible to hack using cryptography; b) Saves Time and Labour Cost, grouping patient information; c) Increases Efficiency, as patient's data can be securely shared between doctors, pharmacists and therapists. A Complete Guide to Solana – Is It Here to Stay? – While Ethereum has been struggling with limited scalability and high gas fees, competitor blockchains have gained quite some traction lately. One of them is Solana, a highly scalable and speedy DLT platform that features a fast-growing ecosystem. How To Do Your Own Research (Hint: It's More Than Reading a Few Reviews) – While cryptocurrencies offer numerous benefits for users, your money is at stake when you use digital asset services. For that reason, doing your own research is crucial to maximize your potential gains, pick the right crypto solutions, as well as avoid scammers and fraudulent projects. A Way To Beat Financial Crime - Renewed Anti Money Laundering Policy – Despite the fact that illicit activity only accounted for approximately 0.2% of all crypto transactions, regulators have been putting the industry under heavy scrutiny lately. And, with the goal of combatting financial crime, the AML policies of digital asset businesses have been at the center of focus lately. We hope you enjoyed all of today's stories. We'll have more for you tomorrow. Cheers, The Blockster Team © 2021 Blockster. All rights reserved This message was sent to lelakikelasmenengah@gmail.com by info@blockster.com Queensway, Midtown, Giblartar GX11 1AA, Gibraltar Unsubscribe | Manage Subscription | Forward Email

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