Loopring

UwU Lend

DeFi

Million

Security

<div class="intro-text">
 UwU Lend, a leading decentralized smart lending platform, is under attack. <a style="color: #0000ff;" href="https://x.com/CyversAlerts/status/1800139071857316328" rel="noopener noreferrer nofollow">According to Cyvers Alerts</a>, an on-chain tracking platform, approximately $19.5 million has been stolen so far.&nbsp;
</div>
According to the platform, the attack is still ongoing, and the amount lost could increase. Meanwhile, the UwU Lend team has not issued a statement regarding the attack.
Cyvers Alerts<a style="color: #0000ff;" href="https://x.com/CyversAlerts/status/1800139071857316328" rel="noopener noreferrer nofollow"> announced three hours</a> ago that it had detected a series of suspicious transactions involving UwU Lend.
<blockquote class="twitter-tweet">
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">ALERT<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">Hey <a href="https://twitter.com/UwU_Lend?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@UwU_Lend</a>, you are being attacked!
 So far address got around $14M
 More update will follow!
 Please contact us to learn how to secure your digital assets!<a href="https://twitter.com/hashtag/CyversAlert?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#CyversAlert</a> <a href="https://t.co/IND77hbTbH" rel="noopener noreferrer nofollow">pic.twitter.com/IND77hbTbH</a>
 — <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> Cyvers Alerts <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@CyversAlerts) <a href="https://twitter.com/CyversAlerts/status/1800139071857316328?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 10, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<blockquote>
 “Our system has detected a series of suspicious transactions involving UwU Lend,” 
</blockquote>
Cyvers Alerts<a style="color: #0000ff;" href="https://x.com/CyversAlerts/status/1800139071857316328?t=zSt7aPXczqAUUuDygajQYQ&amp;s=19" rel="noopener noreferrer nofollow"> announced</a>. 
<blockquote>
 “The attacker has executed three transactions and was able to steal around $19.5 million. However, the hack is still ongoing, and the amount might increase. Currently, the attacker is swapping stolen digital assets for ETH.”
</blockquote>
Cyvers Alerts also added that the wallet linked to the attack received funds two days ago, which have been traced back to Tornado Cash.
UwU Lend offers a simple process for users to deposit assets and earn interest and rewards in UwU tokens. Users can also borrow against their collateral, stake UwU tokens, or lock UwU/ETH LP tokens to benefit from the platform’s revenues. It also supports a wide range of digital assets and offers automated looping, various strategies, and vaults to optimize returns.
Since its inception, the platform has<a style="color: #0000ff;" href="https://uwulend.fi/#features" rel="noopener noreferrer nofollow"> generated</a> $9,337,380.81 in fees. Its total value locked (TVL) is $308.48 million, and its liquidity is locked at $6.89 million.
The current security breach highlights the vulnerabilities in decentralised finance platforms,&nbsp; which have occurred in various instances recently. In a similar vein, Loopering, a prominent zk-rollup-based protocol on Ethereum, <a style="color: #0000ff;" href="https://x.com/CyversAlerts/status/1799815252797768124" rel="noopener noreferrer nofollow">recently experienced a significant security breach</a>, with several of its Smart Wallets compromised and approximately $5 million in digital assets lost.
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RELATED: <a style="color: #0000ff;" href="https://defi-planet.com/2024/06/loopring-tells-users-to-contact-team-on-asset-recovery-following-5m-security-breach/" rel="noopener noreferrer nofollow">Loopring Tells Users to Contact Team on Asset Recovery Following $5M Security Breach</a>
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The Loopring team recently <a style="color: #0000ff;" href="https://defi-planet.com/2024/06/loopring-tells-users-to-contact-team-on-asset-recovery-following-5m-security-breach/" rel="noopener noreferrer nofollow">announced </a>that they temporarily suspended the affected part of their operations to prevent further breaches. They also noted that they are collaborating with security experts and law enforcement agencies to investigate the breach, track down the perpetrator, recover the stolen assets, and prevent future breaches.
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The post <a href="https://defi-planet.com/2024/06/uwu-lend-under-attack-19-5-million-stolen-and-counting-says-cyvers-alerts/" rel="noopener noreferrer nofollow">UwU Lend Under Attack: $19.5 Million Stolen and Counting, Says Cyvers Alerts</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

UwU Lend Under Attack: $19.5 Million Stolen and Counting, Says Cyvers Alerts

DeFi Planet

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