Crema Finance closes liquidity protocol on Solana amid hack investigation

While awaiting Crema Finance's report on the situation, the Crypto Twitter community has taken on the task of tracking down the hacker's wallet and gaining a better understanding the problem.

Crema Finance, a liquidity protocol focused on the Solana blockchain, has announced the temporary suspension of its services due to a successful exploit that drained a substantial but undisclosed amount of funds.

Shortly after realizing its protocol hack, Crema Finance suspended liquidity services to prevent the hacker from tapping into its liquidity reserves, which include funds from the service provider and investors.

Warning! Our protocol appears to have been hacked. We have temporarily suspended the program and are investigating it. Updates will be shared here as soon as possible.

Speaking to Cointelegraph on the matter, Henry Du, co-founder of Crema Finance, confirmed the start of the investigation. He said:

"We are working with some security companies and got support from Solana, Solscan and Etherscan etc. We will continue to post any updates through the official Twitter account."

While the company has yet to provide an update based on an ongoing investigation at the time of writing, the Crypto Twitter community has taken it upon itself to track down the hacker's wallet and better understand the situation.

Based on a personal investigation, crypto community member @HarveyMackinto2 reportedly spotted the hacker's wallet address. The address in question contains 69,422.89 Solana Tokens (SOL), approximately over $2.3 million, obtained through a series of transactions spanning several hours.

Other members of the crypto community, however, suspect the hacker makes 90% of the total liquidity of some of the pools of Crema Finance disappear. From, too,