As a seasoned crypto investor with a keen interest in decentralized finance (DeFi) projects, I’m deeply concerned about the recent developments surrounding UwU Lend. The repeated hacks, totaling over $23 million in stolen funds, are truly disheartening.
A decentralized financing platform named UwU Lend has once again fallen victim to a hack, resulting in a loss of approximately $3.7 million in stolen assets for the second time at the hands of the same attacker.
It seems that UwU Lend, a Decentralized Finance (DeFi) platform on Ethereum focused on lending and liquidity, has fallen victim to yet another hack by the same attacker, resulting in approximately $20 million in losses just two days ago.
As a crypto investor, I received an alarming update: @UwU_Lend has once again fallen victim to a security breach by the same malicious actor. The damage this time around amounts to a substantial loss of approximately $3.7 million. The following pools have been targeted and affected: uDAI, uWETH, uLUSD, uFRAX, uCRVUSD, and uUSDT. The stolen assets have all been converted into ETH and can now be found at the attacker’s address. Keep a close eye on this situation for further developments.— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) June 13, 2024
Based on Cyvers Alerts’ figures, a hacker successfully siphoned off approximately $3.7 million from pools such as uDAI, uWETH, uLUSD, uFRAX, uCRVUSD, and uUSDT. The converted stolen assets are now in the possession of the attacker, according to the firm’s statement.
According to the handle @CryptoEvgen, who identified themselves as a user of X, the most recent cyberattack involved funds that were previously stolen during the initial hack. The specifics behind this latest occurrence are still uncertain, and UwU Lend has yet to issue a public comment regarding the incident.
As a crypto investor, I’ve recently learned about an unfortunate incident that occurred just two days ago. UwU Lend, a protocol I follow, suffered a significant loss of approximately $20 million in cryptocurrency. They described this as a “sophisticated attack.” According to crypto.news, the attacker reportedly used Curve LlamaLend as an “exit liquidity” for this assault. Essentially, they exploited a vulnerability in Curve LlamaLend to make off with the funds from UwU Lend.
Michael Patryn, who goes by the aliases Omar Dhanani and “0xSifu,” established UwU Lend. He is an influential figure in the cryptocurrency world, having co-founded the now defunct QuadrigaCX exchange. Modeled after the open-source AAVE v2 framework, UwU Lend provides lending, borrowing, and staking functionalities. Users participate in the platform’s revenue generation through the use of its native token, UwU.
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2024-06-13 15:28