Decentralized lending platform Foam Finance appears to have suffered a astringent exploit on Wednesday, with an attacker stealing over $100 million worth of funds through a large flash loan attack.

Blockchain data analytics company PeckShield kickoff identified the flash loan on Wednesday. The compromised funds were mainly Cream liquidity provider tokens, as well as other Ethereum-based tokens.

During a flash loan set on, an assaulter exploits vulnerable smart contracts in order to create their own arbitrage opportunity. Typically, this is done past modifying the relative value of a trading pair by flooding the contract using their loaned tokens.

Cream Finance has been routinely targeted by attackers, every bit evidenced by the $19-million flash loan hack of the protocol in August. As Cointelegraph reported at the time, the attack was facilitated by a reentrancy problems introduced by the Amp cryptocurrency, an Ethereum-based token designed to collateralize digital payments on Flexa. At the time of writing, Foam's full value locked (TVL) was worth over $one.5 billion, co-ordinate to manufacture sources.

Cream Finance TVL. Source: Defillama

Cream Finance'southward forums announced to accept been pulled in the wake of the attack, though the protocol did notify its Twitter followers that the wink loan is being investigated. The Twitter thread is filled with angry responses about Cream'southward poor runway record when it comes to safeguarding user funds.

Related: Hackers exploit MFA flaw to steal from vi,000 Coinbase customers — Written report

While decentralized finance, or DeFi, has been lauded for revolutionizing traditional finance and promoting financial inclusion, the industry's track record regarding consumer protection has been shoddy. A comprehensive list of DeFi attacks reveals 63 exploits as of Sept. 16, with the lost funds totaling roughly $one.ii billion, co-ordinate to CryptoSec. The latest exploit of Cream Finance would be 1 of the largest.

The value of Cream Finance's CREAM token crashed amid the news, falling more than 26% to $115.47, according to Cointelegraph Markets Pro.