Solana

UwU Lend

The decentralized lending and liquidity protocol UwU Lend experienced a series of attacks within just three days. On June 10, 2024, the firm fell victim to an exploit resulting in losses of approximately $19.3 million, as reported by Todayq News. However, today, on June 13, 2024, UwU Lend once again experienced an attack by the same hacker, resulting in an additional loss of 1,064 ETH worth $3.7 million.&nbsp; UwU Lend experienced another attack&nbsp; 
This recent attack was shared by the blockchain security firm CertiK, who confirmed and shared the details of this attack. This second attack that <a href="https://news.todayq.com/defi-protocol-uwu-lend-hit-by-19-3-million-exploit-report/" rel="noopener noreferrer nofollow">UwU Lend</a> experienced in just 3 days employed the same price oracle manipulation technique, a sophisticated method that has once again highlighted vulnerabilities in DeFi protocols. With this latest breach, UwU Lend’s total losses now stand at a staggering 5,971 ETH, equivalent to $23 million.
Following this incident, UwU Lend’s (UWU) tokens experienced a slight price drop of 5%, which happened just following this incident. Whereas, the 24-hour trading volume massively increased by 2610% and currently stands near $98,112.&nbsp;
Although the recent attack is not confirmed by the UwU Lend protocol, the last time the platform experienced an attack, they made a post on X where they stated, “The protocol was paused a little under an hour ago while the team investigates the situation. Please rest assured that we were made aware of the situation immediately and are taking all necessary steps, doing our best here. Stay tuned for further updates.”&nbsp;
However, the repeated attacks raise concerns about the platform’s security measures and highlight the persistent threats facing the crypto industry.&nbsp; Last 24 hours in the Crypto market&nbsp; 
Despite lots of uncertainty in the cryptocurrency space, currently, the overall market is struggling to gain momentum. Top cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) have experienced a price drop of 0.15%, 1.2%, and 1.3%, respectively, in the last 24 hours. Whereas, the overall market is down by 0.4%, while the 24-hour trading volume has surged by 20%, highlighting investors’ and traders’ interest and confidence.
Today, as the market is struggling, 2 fresh wallets have withdrawn a massive 2,000 Bitcoins from Binance, the world’s <a href="https://news.todayq.com/bitcoin-bulls-move-135-mln-of-bitcoin-after-fomc-report-bullish-signal/" rel="noopener noreferrer nofollow">biggest crypto exchange</a>, as it comes near the $67,000 level, as reported by Todayq News on June 13, 2024.

Another Defi protocol suffers $3.7 mln exploit, What’s happening?

Todayq News

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