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Uwu Lend, a DeFi protocol founded by convicted fraudster Michael Patryn, a.k.a “Sifu”, was hacked again on Thursday for $3.7 million, according to the blockchain security firm Cyvers. It comes just three days after the same attacker plundered the protocol for $19.4 million, it said. 
Also read: <a href="https://www.cryptopolitan.com/defi-protocol-founded-by-sifu-hacked/">DeFi protocol founded by ‘Sifu’ hacked for $19.4 million</a> 
Cyvers did not say exactly how the exploit happened. However, the <a href="https://twitter.com/peckshield/status/1800176089316163831?t=sSTARHvGkT0vQ2qCH0AHUw&amp;s=19" rel="nofollow noopener" target="_blank">initial attack</a> on June 10 involved the use of ‘flash loans’, a type of loan that allows decentralized finance (DeFi) users to borrow crypto without collateral. Flash loans can also be manipulated. In the Monday incident, the Uwu Lend hacker targeted five stablecoin pairs to manipulate the price feed of sUSDe and stole nearly $20 million in USDC, FRAX, crvUSD and blUSD. 
<h2 id="uwu-lend-has-not-committed-to-refunding-users-a-second-time">Uwu Lend has not committed to refunding users a second time</h2> 
In the latest breach, Cyvers <a href="https://twitter.com/CyversAlerts/status/1801163462816473466?t=BtJaBnoJ3mEhQFUNPzcslw&amp;s=19" rel="nofollow noopener" target="_blank">reports</a> that the hacker made off with a total of $3.7 million in the stablecoins DAI, USDT, FRAX, crvUSD, LUSD and wrapped Ether. Like the first time, the stolen funds were converted to Ethereum (ETH) and transferred to the attacker’s <a href="https://etherscan.io/address/0x841ddf093f5188989fa1524e7b893de64b421f47" rel="nofollow noopener" target="_blank">wallet address.</a> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 🚨ALERT🚨<a href="https://twitter.com/UwU_Lend?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">@UwU_Lend</a> has suffered another security breach by the same attacker! 
 Total loss: $3.7M Affected pools: uDAI, uWETH, uLUSD, uFRAX, uCRVUSD, uUSDT All stolen assets have been converted to <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$ETH</a> and are located at the attacker's address: <a href="https://t.co/9TvwLh18P1" rel="nofollow" target="_blank">https://t.co/9TvwLh18P1</a> 
 To learn… <a href="https://t.co/AjcMS1Cdyl" rel="nofollow" target="_blank">https://t.co/AjcMS1Cdyl</a> 
 — 🚨 Cyvers Alerts 🚨 (@CyversAlerts) <a href="https://twitter.com/CyversAlerts/status/1801163462816473466?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">June 13, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
As of writing, Uwu Lend has not commented on the Thursday exploit. Previously, the protocol <a href="https://x.com/UwU_Lendio/status/1800206381825564883?t=x-MBVeHyOfUQ_pEs2qVTxQ&amp;s=19" rel="nofollow" target="_blank">said</a> it would reimburse people “up to 80% of their original deposited amount.” The company later <a href="https://x.com/UwU_Lend/status/1800864462825787824?t=cljWze-n9aLQx4y604r6-A&amp;s=19" rel="nofollow" target="_blank">said</a> it had “identified the vulnerability” that led to the initial breach and resolved the issue. 
Uwu Lend eventually reactivated its lending pools, which were paused in the wake of the $19.4 million heist. Cyvers revealed that the attacker hit them again 24 hours later. The protocol came out of leading lending protocol Aave, particularly its so-called v2 codebase, allowing users to borrow, lend and stake a variety of crypto assets. 
Also read: <a href="https://www.cryptopolitan.com/okx-user-loses-2-million-crypto-in-ai-hack/">OKX user loses $2 million in crypto in AI deepfake hack</a> 
Uwu Lend was created by Michael Patryn, co-founder of the Canadian crypto exchange <a href="https://www.cryptopolitan.com/quadriga-cx-ponzi-scheme-canadian-authority/">Quadriga CX,</a> which lost $124 million of user funds in 2019. Sifu was booted out as treasurer of DeFi protocol Wonderland in February 2022 after he was <a href="https://www.cryptopolitan.com/wonderland-cfo-ex-convict-patryn-quadrigacx/">doxxed</a> as Patryn. He was not accused of any wrongdoing. Sifu is also a former convict who did time for bank fraud in the U.S. 
Cryptopolitan reporting by Jeffrey Gogo

Sifu’s Uwu Lend hacked again by same attacker, loses $3.7M

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