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Cream Finance

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[AI-DRAFTED · AWAITING VERIFICATION]

Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.

anchored·3yfHNj…9A5t

Summary

C.R.E.A.M. Finance is a decentralized lending protocol that launched on Ethereum in August 2020, originally forked from Compound Finance. The protocol suffered three major exploits across 2021, losing approximately $186 million in total user funds, and has been effectively dormant since early 2022 with minimal development activity and a TVL that collapsed from over $2 billion to under $3 million.

Connected Entities

1 entities
Protocols
⌂Cream Finance
Relationships
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    Timeline(11 events)

    August 2020

    C.R.E.A.M. Finance launches on Ethereum, forked from Compound Finance. Jeffrey Huang and Leo Cheng are founders.

    C.R.E.A.M. Finance Medium

    4 February 2021

    CREAM governance token reaches all-time high of approximately $368.

    CoinMarketCap

    13 February 2021

    First major exploit: Iron Bank and Alpha Homora V2 attacked via flash loan, approximately $37.5 million stolen. Largest flash loan exploit on record at the time.

    CoinDesk

    30 August 2021

    Second exploit: AMP token ERC-777 reentrancy bug exploited across 17 transactions, draining 2,804.96 ETH and 462,079,976 AMP tokens (~$18.8M). A copycat attacker exploits the same unfixed vulnerability in the same period.

    CoinDesk

    27 October 2021

    Third and largest exploit: yUSD oracle price manipulation via flash-borrowed DAI and ETH allows attacker to drain approximately $130 million across 68 asset types. Largest DeFi flash loan hack recorded at the time.

    Bloomberg

    November 2021

    C.R.E.A.M. team announces repayment plan: 1,453,415 CREAM tokens (entire team allocation) distributed to exploit victims. CREAM price declines sharply on the news.

    The Defiant

    June 2022

    ZachXBT publishes investigation alleging founder Jeffrey Huang misappropriated approximately 22,000 ETH from the Formosa Financial ICO treasury and alleging involvement in vote manipulation in the 2018 Binance listing competition for Mithril. ZachXBT later retracted the misappropriation allegation (see August 2023).

    ZachXBT / Medium

    12 September 2022

    October 2021 exploit attacker converts $1.75 million in stolen funds to Bitcoin; the majority of the $130M remains unrecovered.

    CoinDesk

    17 June 2023

    Jeffrey Huang files a defamation lawsuit against ZachXBT over the June 2022 article.

    Blockworks

    5 August 2023

    Last significant commit activity observed on Cream Finance GitHub repositories. Protocol enters effectively dormant state.

    GitHub — CreamFi

    14 August 2023

    Huang withdraws his defamation lawsuit against ZachXBT by mutual agreement, after ZachXBT amends the June 2022 article — removing the misappropriation allegation and the 'ten failed projects' claim, and softening the Binance vote characterization from 'caught' to 'accused.' No court ruling was made on the merits.

    The Block
    Provenance & Audit Trail
    Anchored on SolanaVerify on-chain19 Wayback Archives

    Decision Log

    • #3review revise-12⛓ pending8/25/2026, 6:05:23 PM
      hash: D1GvMhU4RydF5K3AzpMt1wSKUAeagbz1k6DfQMNnoZer
    • #2review⛓ pending8/25/2026, 6:05:23 PM
      hash: HTLNKWB5JLMMGW8LENi51r7toQ5orgXA1RTsMuXE8fRH
    • #1publish⛓ anchored · slot 4233244965/31/2026, 6:59:08 AM
      hash: HuHAtx3DKMkRGwh4tyBZNJfUGEz1tXNDYVdm7sXcKbQj

    This investigation is cryptographically anchored to the Solana blockchain (1 event). 19 of 20 cited source URLs have an Internet Archive snapshot.

    full audit log →version history →

    model: claude-sonnet-4-6

    generated: 5/31/2026, 6:59:03 AM

    last updated: 8/25/2026, 6:05:22 PM

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