2024

UwU Lend

Arkham

<a href="https://bitcoinworld.co.in/lending-protocol-uwu-lend-hacked-hackers-stole-19-3-million-away/" title="Lending Protocol UwU Lend Hacked, Hackers Stole $19.3 million Away" rel="noopener noreferrer nofollow"></a>
UwU Lend, a lending and liquidity protocol, has reportedly been hacked in an exploit amounting to $19.3 million.&nbsp;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 UWU almost certainly hacked <a href="https://t.co/bvv0gDY4LQ" rel="noopener noreferrer nofollow">https://t.co/bvv0gDY4LQ</a> <a href="https://t.co/HsgIakHOgr" rel="noopener noreferrer nofollow">pic.twitter.com/HsgIakHOgr</a>
 — Togbe (@Togbe0x) <a href="https://twitter.com/Togbe0x/status/1800140412574920821?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 10, 2024</a>
</blockquote>
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A malicious <a href="https://bitcoinworld.co.in/hackers-target-okx-customers-in-suspected-sms-risk-notifications/" rel="noopener noreferrer nofollow">hack</a> recently targeted the decentralized lending platform. Reports from the blockchain security firm <a href="https://x.com/ArkhamIntel/status/1800143513016750135" rel="noopener noreferrer nofollow">Arkham</a> indicate that unknown perpetrators stole $19.3 million from the lending protocol.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 ALERT: Possible exploit on Uwulend<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;"><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;">
 $19.3M removed so far.
 Address:<a href="https://t.co/mDU0WTbE7S" rel="noopener noreferrer nofollow">https://t.co/mDU0WTbE7S</a> <a href="https://t.co/Bx7cLbkrqE" rel="noopener noreferrer nofollow">pic.twitter.com/Bx7cLbkrqE</a>
 — Arkham (@ArkhamIntel) <a href="https://twitter.com/ArkhamIntel/status/1800143513016750135?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 10, 2024</a>
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The incident highlights ongoing security vulnerabilities in the DeFi sector, raising concerns about the safety of digital assets on decentralized platforms.
<h2 id="span-style-font-weight-400-the-hack-span">The Hack</h2>
The blockchain data indicates that the perpetrator transferred the stolen funds through multiple wallet addresses.&nbsp;
According to a crypto user on the blockchain explorer Etherscan, the perpetrator utilized Curve LlamaLend as the “exit liquidity” for the attack.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <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>
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On-chain data shows that one wallet siphoned a collection of tokens, including wrapped ether (WETH), wrapped bitcoin (WBTC) and stablecoins, before trading the majority of it out on Uniswap.
UwU Lend claims to have never been hacked since its inception in 2022 but they <a href="https://x.com/UwU_Lend/status/1800159455767843009" rel="noopener noreferrer nofollow">posted</a> on X stating that “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;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 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.
 — UwU Lend (@UwU_Lend) <a href="https://twitter.com/UwU_Lend/status/1800159455767843009?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 10, 2024</a>
</blockquote>
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UwU Lend is based on the open-source AAVE v2 codes and offers lending, borrowing, and staking services. Users receive 100% of platform revenues in the form of a token called UwU.
Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Lending Protocol UwU Lend Hacked, Hackers Stole $19.3 million Away

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