Crema Finance, a concentrated liquidity protocol built on the Solana (SOL) blockchain, has lost over USD 8.7m worth of crypto assets in a flash loan attack that drained its liquidity reserves.The protocol's official Twitter account confirmed the hack on Sunday and announced the temporary suspension of the service as they started an investigation."Our protocol seems to have just experienced a hacking," Crema Finance's Twitter account said. "We temporarily suspended the program and are investigating it.
Updates will be shared here ASAP."In an update, the team explained that the hacker started by creating a fake tick account, which is a dedicated account that stores price tick data in a concentrated liquidity market maker (CLMM).Read more on cryptonews.com