UwU Lend

Cyber

Read

Frax

Decentralized finance protocol UwU Lend has suffered another exploit from the same attacker, costing it $3.7 million worth of stolen funds. 
UwU Lend, an <a href="https://crypto.news/tag/ethereum/" target="_blank" rel="">Ethereum</a>-based lending and liquidity protocol, has apparently suffered another hack from the same attacker, who exploited the protocol two days ago for nearly $20 million. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 🚨ALERT🚨<a href="https://twitter.com/UwU_Lend?ref_src=twsrc%5Etfw" target="_blank" rel="">@UwU_Lend</a> has suffered another security breach by the same attacker! Total loss: $3.7M Affected pools: uDAI, uWETH, uLUSD, uFRAX, uCRVUSD, uUSDT All stolen assets have been converted to <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$ETH</a> and are located at the attacker's address: <a href="https://t.co/9TvwLh18P1" target="_blank" rel="">https://t.co/9TvwLh18P1</a> To learn… <a href="https://t.co/AjcMS1Cdyl" target="_blank" rel="">https://t.co/AjcMS1Cdyl</a>— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) <a href="https://twitter.com/CyversAlerts/status/1801163462816473466?ref_src=twsrc%5Etfw" target="_blank" rel="">June 13, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
According to <a href="https://x.com/CyversAlerts/status/1801163462816473466" target="_blank" rel="">data</a> from Cyvers Alerts, the hacker drained $3.7 million in liquidity from pools including uDAI, uWETH, uLUSD, uFRAX, uCRVUSD, and uUSDT. All stolen assets have been converted to ETH and are currently held at the attacker’s address, the firm added. 
 You might also like: <a href="https://crypto.news/cyber-engineers-hacked-time-to-recover-3m-in-bitcoin-from-password-manager/" rel=""> Cyber engineers ‘hacked time’ to recover $3m in Bitcoin from password manager </a> 
As <a href="https://x.com/CryptoEvgen/status/1801171334589829396" target="_blank" rel="">noted</a> by an X user under the alias @CryptoEvgen, the hacker used funds “stolen during the first hack for this new attack.” The cause of the latest incident remains unclear, and UwU Lend has yet to make a public statement on the matter. 
The latest incident comes just two days after UwU Lend lost $20 million worth of crypto, what the protocol described as a “sophisticated attack.” As crypto.news <a href="https://crypto.news/uwu-lend-hacked-out-of-19-3-million/" target="_blank" rel="">reported</a>, the attacker seemingly utilized Curve LlamaLend as the “exit liquidity” for the attack. 
UwU Lend was founded by Michael Patryn, also known as Omar Dhanani or “0xSifu,” who is a co-founder of the ill-fated QuadrigaCX exchange. Based on the open-source AAVE v2 code, UwU Lend offers lending, borrowing, and staking services, and shares platform revenues with users through its native token, UwU. 
 Read more: <a href="https://crypto.news/frax-finance-founder-says-serial-scammer-hacked-x-account/" rel=""> Frax Finance founder says ‘serial scammer’ hacked X account </a>

UwU Lend suffers its second $3.7m hack by same attacker

crypto.news

Other articles published on Jun 13, 2024

Finance Minister Delays Crypto Exchange Tax

NEAR Takes a Dip as Injective and Raboo Soar: Which AI Crypto to Buy Today?

Toncoin (TON) Price Prediction: $11 Target Amidst Growing Telegram Adoption

Will The AI Token FET Price Reach $5 This Month?

Russia-Linked Crypto Addresses May Face US Market Lockout

Biden Announces Nominations for Financial Regulatory Roles

Join our free newsletter for daily crypto updates!