Fact-check findings

No source the reviewer could reach confirms or contradicts the claim.

1. #2[unverifiable][awaiting moderator]in section: Protocol Overview

   “Leo Cheng holds an MBA from the University of Michigan and previously worked at Apple, American Express, and Belkin.”

   reviewerLeo Cheng holds an MBA from the University of Michigan and previously worked at Apple, American Express, and Belkin.Leo Cheng's role as co-founder is only weakly corroborated by one low-tier French-language source, and no source found corroborates the specific MBA/employment history. This level of biographical detail about a named individual should be independently sourced; could not confirm or refute.
   citedcoinbureau.com/review/cream-financephemex.com/academy/what-is-cream-finance

The claim was accurate when written but events since have overtaken it.

1. #11[stale][awaiting moderator]in section: Token Performance and Current Status

   “By late 2025, the token had declined to an all-time low of approximately $0.71, representing a decline of over 99.8% from peak.”

   reviewerBy late 2025, CREAM reached an all-time low of approximately $0.71, a decline of over 99.8% from its all-time high.The $0.71 figure was apparently accurate at an earlier snapshot but has been superseded: the token continued declining into 2026 and the page's own cited source (CoinMarketCap) now shows a lower all-time low on a later date. Same error repeated in timeline[11].
   Proposed correction (not yet applied)

   By mid-2026, the token had declined to an all-time low of approximately $0.24, representing a decline of over 99.9% from peak.
   citedcoinmarketcap.com/currencies/cream-finance/
2. #12[stale][awaiting moderator]in the timeline

   “CREAM token reaches all-time low of approximately $0.71, down more than 99.8% from its 2021 peak.”

   reviewerCREAM token reached an all-time low of approximately $0.71 on 2025-12-30, down more than 99.8% from its 2021 peak.Same underlying staleness as the Token Performance section finding; the event text needs updating alongside the date field below.
   Proposed correction (not yet applied)

   CREAM token reaches all-time low of approximately $0.24, down more than 99.9% from its 2021 peak.
   citedcoinmarketcap.com/currencies/cream-finance/
3. #13[stale][awaiting moderator]in the timeline

   “2025-12-30”

   reviewerThe all-time low date recorded for CREAM is 2025-12-30.Date field should be updated to match the currently-recorded all-time low date; the token continued to decline after the date originally recorded on the page.
   Proposed correction (not yet applied)

   2026-05-29
   citedcoinmarketcap.com/currencies/cream-finance/

The cited evidence supports part of the claim but not all of it.

1. #3[partially supported][awaiting moderator]in section: Protocol Overview

   “Jeffrey Huang is a serial entrepreneur who also founded the Mithril (MITH) social media platform and co-founded Machi X, an NFT marketplace.”

   reviewerJeffrey Huang founded Mithril (MITH) and co-founded Machi X, an NFT marketplace.The Mithril claim is corroborated. No independent source could be found for a Huang-co-founded NFT marketplace called 'Machi X' — the only similarly-named venture surfaced is 'Machi 17', an entertainment company, which is different.
   citedcoinbureau.com/review/cream-finance

The cited evidence supports the claim as written.

1. #1[confirmed][no action needed]in section: Protocol Overview

   “C.R.E.A.M. Finance (Crypto Rules Everything Around Me) is a decentralized, permissionless lending protocol launched on Ethereum on August 3, 2020, and subsequently deployed on Binance Smart Chain and Fantom.”

   reviewerCREAM Finance launched on Ethereum on August 3, 2020, forked from Compound Finance, and was co-founded by Jeffrey Huang and Leo Cheng.Launch date, chain deployments, and Compound-fork lineage are corroborated by multiple independent sources.
   citedcoinbureau.com/review/cream-financephemex.com/academy/what-is-cream-finance
2. #4[confirmed][no action needed]in section: Hack 1 — Iron Bank Exploit via Alpha Homora (February 2021, ~$37.5M)

   “The attacker borrowed 13,244 ETH ($23.8 million), $3.6 million USDC, $5.6 million USDT, and $4.2 million DAI. The entire exploit cost approximately $14,754 in gas fees.”

   reviewerOn February 13, 2021, CREAM's Iron Bank was exploited via Alpha Homora V2 for approximately $37.5 million, with the attacker borrowing 13,244 ETH ($23.8M), $3.6M USDC, $5.6M USDT, and $4.2M DAI, costing ~$14,754 in gas.Figures confirmed exactly against the cited Decrypt article; cited URL is live and accurate.
   citeddecrypt.co/57660/a-37-million-defi-heist…transaction-fees
3. #5[confirmed][no action needed]in section: Hack 2 — AMP Token Reentrancy Exploit (August 2021, ~$18–25M)

   “The attacker drained 2,804.96 ETH and 462,079,976 AMP tokens.”

   reviewerOn August 30, 2021, the AMP token reentrancy exploit drained 2,804.96 ETH and 462,079,976 AMP tokens.Exact figures confirmed against cited Halborn post-mortem.
   citedwww.halborn.com/blog/post/explained-the-…hack-august-2021
4. #6[confirmed][no action needed]in section: Hack 2 — AMP Token Reentrancy Exploit (August 2021, ~$18–25M)

   “A copycat attacker subsequently used the same technique in a secondary theft.”

   reviewerA copycat attacker subsequently used the same reentrancy technique in a secondary theft during the August 2021 AMP exploit.Confirmed; the copycat occurred within the same incident window (same day), consistent with the page's phrasing.
   citedwww.halborn.com/blog/post/explained-the-…hack-august-2021slowmist.medium.com/slowmist-brief-analy…vent-30b18e1db8c
5. #7[confirmed][no action needed]in section: Hack 3 — Flash Loan Oracle Manipulation (October 2021, ~$130M)

   “On October 27, 2021, CREAM Finance suffered its largest and third exploit of the year — the third-largest DeFi hack recorded at the time — losing approximately $130 million.”

   reviewerOn October 27, 2021, CREAM's third exploit via yUSDVault oracle manipulation resulted in approximately $130 million in losses, described as the third-largest DeFi hack recorded at the time.Confirmed via multiple tier-1 sources. The cited theblock.co URL's slug ('hacked-for-115-million') is inconsistent with its own article body ($130M); this is a source-side naming artifact, not a page error, but worth noting.
   citedwww.theblock.co/post/122241/ethereum-def…-for-115-millionwww.bloomberg.com/news/articles/2021-10-…n-in-latest-hack
6. #8[confirmed][no action needed]in section: Security Practices and Pattern of Negligence

   “The protocol did commission audits, including one from Trail of Bits in January 2021; however, critics noted the audit focused narrowly on changes from the Compound fork and did not cover economic attack vectors.”

   reviewerCREAM commissioned an audit from Trail of Bits in January 2021 that focused narrowly on changes from the Compound fork and did not cover economic attack vectors.Audit timing and narrow fork-focused scope confirmed by independent reporting on the Trail of Bits engagement.
   citedwww.halborn.com/blog/post/explained-the-…hack-august-2021
7. #9[confirmed][no action needed]in section: Hack Compensation and Token Supply Inflation

   “CoinDesk reported that the announcement caused CREAM to drop from approximately $88 to a low of $51.78.”

   reviewerCoinDesk reported CREAM's token dropped from approximately $88 to a low of $51.78 after the November 2021 compensation plan announcement.Secondary sources show minor variance in the starting price (quoted as $86-$88 depending on outlet/snapshot time), but the $51.78 low and the overall magnitude of the drop are corroborated.
   citedwww.coindesk.com/business/2021/11/14/cre…ate-token-supply
8. #10[confirmed][no action needed]in section: ZachXBT Investigation and Jeffrey Huang Defamation Lawsuit

   “On August 15, 2023, both parties announced the lawsuit had been dropped by mutual agreement.”

   reviewerZachXBT published an article on June 16, 2022 alleging Jeffrey Huang embezzled 22,000 ETH from Formosa Financial; Huang sued for defamation on June 17, 2023; the suit was dropped by mutual agreement around August 15, 2023, after which ZachXBT revised the article's title and softened the embezzlement language.Core sequence of events (article, lawsuit, withdrawal, article revision) is well corroborated. The Block's article is dated Aug 14, 2023 versus the page's Aug 15, 2023; this minor one-day discrepancy could not be resolved to a specific court filing date and is not material enough to warrant a correction.
   citedwww.theblock.co/post/244776/jeffrey-mach…o-sleuth-zachxbtblockworks.co/news/jeffrey-huang-zachxbt-defamation
9. #14[confirmed][no action needed]in section: Token Performance and Current Status

   “The CREAM token reached an all-time high of $373.16 on February 4, 2021.”

   reviewerCREAM reached an all-time high of $373.16 on February 4, 2021.Minor source-to-source variance in the exact ATH figure ($368-$374) is normal for this kind of market data and does not rise to a material error.
   citedcoinmarketcap.com/currencies/cream-finance/
10. #15[confirmed][no action needed]in section: Token Performance and Current Status

    “The Web3 Is Going Great index, which tracks DeFi incidents, lists CREAM Finance with three separate entries covering its 2021 exploits.”

    reviewerThe Web3 Is Going Great index lists CREAM Finance with three separate entries covering its 2021 exploits.Precisely confirmed; the page's careful scoping to exploits (excluding the unrelated defamation-suit entry) matches the source.
    citedwww.web3isgoinggreat.com/?collection=cream
11. #16[confirmed][no action needed]in the timeline

    “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.”

    reviewerOn September 12, 2022, CoinDesk reported the CREAM Finance exploiter converted $1.75 million in stolen funds to Bitcoin.Claim content is accurate, but this timeline entry's 'source' field is empty on the page and the CoinDesk URL does not appear anywhere in sources_used — a sourcing gap rather than a factual error.