CREAM Lending
Summary
C.R.E.A.M. Finance (Crypto Rules Everything Around Me) is a decentralized lending and borrowing protocol launched in August 2020, forked from Compound Finance. The protocol suffered three major exploits in 2021 totaling approximately $185 million in losses, making it one of the most frequently and severely hacked DeFi protocols in history. On-chain investigator ZachXBT flagged the protocol and its founders, and the CREAM token has collapsed more than 99% from its all-time high.
Connected Entities
1 entities- + 1 more
Timeline(12 events)
2020-08-03
CREAM Finance launches on Ethereum, forked from Compound Finance, co-founded by Jeffrey Huang and Leo Cheng.
2021-02-04
CREAM token reaches all-time high of $373.16.
2021-02-13
Hack 1: CREAM Finance Iron Bank exploited via Alpha Homora V2 uncollateralized lending vulnerability. Approximately $37.5 million lost across ETH, USDC, USDT, and DAI. CREAM and ALPHA tokens fall ~30%.
2021-08-30
Hack 2: CREAM Finance exploited via ERC-777 reentrancy vulnerability in AMP token integration. Approximately 2,804 ETH and 462 million AMP tokens drained, worth $18.8–25 million. AMP token price falls ~15%.
2021-10-27
Hack 3: CREAM Finance suffers largest exploit — approximately $130 million drained via flash loan oracle price manipulation against yUSDVault. Third-largest DeFi hack recorded at the time. CREAM token falls over 30%.
2021-10-27
CREAM Finance posts on-chain message to attacker: 'you win. we're rekt. please return funds.' A 10% bounty offer yields no recovery.
2021-11-14
CREAM announces hack compensation plan: 1.45 million CREAM tokens to be issued from treasury, dramatically expanding circulating supply. Token drops from ~$88 to ~$51.
2022-06-16
ZachXBT publishes article alleging CREAM co-founder Jeffrey Huang (Machi Big Brother) embezzled 22,000 ETH from Formosa Financial and lists CREAM among over ten failed projects.
2022-09-12
CoinDesk reports CREAM Finance exploiter converts $1.75 million in stolen funds to Bitcoin, indicating laundering activity continues more than a year after the October 2021 hack.
2023-06-17
Jeffrey Huang files defamation lawsuit against ZachXBT over the June 2022 article.
2023-08-15
Huang drops defamation lawsuit against ZachXBT by mutual agreement. ZachXBT updates article title and removes 'embezzled' language, adding additional context.
2025-12-30
CREAM token reaches all-time low of approximately $0.71, down more than 99.8% from its 2021 peak.
Decision Log
- hash: EWVe2GrDCwHNK41GBELdxcitoQRscqv88iheSFtFcmJL
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:54 AM
last updated: 5/21/2026, 5:13:06 PM
avoid.net — verified advice for a post-truth world