Cream Finance, a DeFi protocol on the Ethereum network, has recently suffered substantial losses from numerous
exploits. First, $25 million was siphoned off in a hack, followed later by further attacks resulting in heists of $16.7 million, $100 million, and $130 million respectively, thus critically affecting their market position. In the wake of these events,
Cream Coin has seen significant volatility, with
price changes ranging from plunges to sharp increases up to 65%. This volatility leads to increased speculation of possible price manipulation strategies, such as
pump and dump schemes.
A solution has been proposed to compensate hack victims by inflating the token supply, a decision that has led to further price declines. While
Lossless, a DeFi security project, managed to recoup $16.7 million from the Cream Finance hack, concerns remain about the platform's security measures. This sentiment was reinforced by an unrelated phishing attack using the Cream domain to steal funds.
In a surprising turn of events, Wu-Tang Clan's Ghostface Killah, co-founder of a cryptocurrency venture, expressed interest in raising $30 million. This venture is tied to the
Cream cryptocurrency, which has seen a dramatic fall of 96.3% since January. These recurrent security incidences coupled with overall bearing market sentiment paint a unstable outlook for Cream Coin.
Meanwhile, despite the turbulent performance,
Cryptocurrency Price Prediction includes Cream among the top altcoins targeted for significant profits in the coming week. This projection adds a layer of unpredictability into an already uncertain market.
CREAM Coin News Analytics from Thu, 31 Aug 2006 07:00:00 GMT to Thu, 10 Oct 2024 13:27:14 GMT -
Rating -8
- Innovation -3
- Information -6
- Rumor -2
