Cybersecurity group Lossless returned assets stolen from Cream Finance – Bits Media

Lossless plans to create a tool for developers, that will prevent hacks and can identify vulnerabilities in DeFi protocols.

Computer and Network Security Company, specialized in DeFi, tweeted, what
returned to the Cream Finance platform tokens stolen in August $16.7 million. Lossless Business Development Director Dominikas van Otterlo (Dominikas van Otterlo) described the asset recovery process, in which she was helped by “familiar hackers”.

“We managed to track down the attacker and return the tokens stolen from Cream Finance. It was a real cyber investigation, in which cybersecurity specialist Pascal Caversaccio helped us a lot (Pascal Caversaccio)».

After a successful operation, the company intends to launch the tool, which will allow DeFi projects to avoid the consequences of vulnerabilities in the code. The solution will make it possible to freeze suspicious transactions for a day. During this time, they can be checked for the presence of a threat.. The tool can be used for decentralized financial projects, built on Ethereum blockchains, Polygon и Binance Smart Chain, including deployment on second-layer protocols.

Recall, DeFi platform Cream Finance suffered a cyber attack using quick loans. The attacker took him out of the site during the attack 418 311 571 AMP and 1 308.09 ETH by more than $25.6 million. DeFi project xToken hacked for the second time in a year. Hackers discovered a vulnerability in the xSNX smart contract and stole tokens from the site. Bitwise CFO Matt Hogan is confident, what is the cause of monthly cyberattacks on DeFi, lies in that, that the industry is just beginning to develop.