CREAM Token Has Lost 40 Percent Of Its Value Value

The CREAM token has lost 40 percent of its value. The last statement of the CREAM token team caused this loss.

Recently, Cream Finance (CREAM), which was hacked for the third time and lost 130 million dollars as a result, fell 40 percent after the last announcement. In the statement made by the team in the evening, it was announced that 1.5 million CREAM tokens would be distributed to users who were victims of the hack attack. It was stated that these tokens will be met from the tokens remaining in the treasury, the remaining CREAM token share of the project team will be completely reset, and no more CREAM will be allocated to the team. On the other hand, the CREAM price quickly reacted to the news that 1.5 million CREAM would be distributed. CREAM, which is priced at $ 85 before the announcement, fell to $ 52 minutes later. CREAM also suffered a serious loss after the attack that took place about 15 days ago. The token, which is trading at $ 160 that day, dropped to $ 100 on the same day. In addition, in the statement made today, it was noted that the team will continue to focus on growing Iron Bank, CFREAM's protocol-to-protocol lending platform from now on. On October 26, 2021, in the event that was recorded as the fourth largest hacking event in the DeFi industry, $130 million in assets were stolen by exploiting a vulnerability in the DeFi protocol Cream Finance. The stolen funds consisted mostly of Cream LP tokens and ERC-20 tokens, which were awarded to users as rewards. In two previous attacks on Cream Finance, which took place in 2021, a total of $ 45 million in crypto money was stolen.