UwU Lend

Bitcoin

Crystal

The team behind the UwU Lend protocol is offering a $5 million bounty to whoever identifies its attacker after they pulled off a second exploit on the protocol.
“Repayment deadline for the funds you stole has passed. 5 Million Dollar bounty to the first person to identify and locate you,” UwU <a href="https://etherscan.io/idm?addresses=0x5dd596c901987a2b28c38a9c1dfbf86fffc15d77,0x841ddf093f5188989fa1524e7b893de64b421f47&amp;type=1" target="_blank" rel="noopener nofollow">wrote</a> to the hacker in a June 13 onchain message after they didn’t transfer 80% of the stolen funds before UwU’s requested deadline of June 12 at 5:00 pm UTC. 
UwU claims the $5 million bounty would be in Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>) and would be paid out before funds are recovered or charges are laid. 
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-06/388579af-1b7d-4397-aca2-f4fdd447a320.png" alt="" title="">
 <figcaption style="text-align: center;">
 UwU’s latest onchain message to its hacker. Source: Etherscan
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It comes as the same hacker <a href="https://cointelegraph.com/news/uwu-lend-second-hack-20m-reimbursement">pulled off a second $3.7 million exploit</a>, stealing funds from UwU’s uDAI, uWETH, uLUSD, uFRAX, uCRVUSD and uUSDT pools on June 13, <a href="https://x.com/CyversAlerts/status/1801163462816473466" target="_blank" rel="noopener nofollow">according</a> to blockchain security firm Cyvers.
Cyvers said the two hacks were carried out by the same hacker wallet <a href="https://etherscan.io/address/0x841ddf093f5188989fa1524e7b893de64b421f47" target="_blank" rel="noopener nofollow">address</a> “0x841…21f47.”
<h3 data-ct-non-breakable="true" id="how-it-all-unfolded">How it all unfolded</h3>
The first exploit saw $20.3 million wiped from a <a href="https://cointelegraph.com/news/crypto-safekeeping-tips-hackers-scammers">price manipulation attack</a> on June 10. 
UwU <a href="https://cointelegraph.com/news/sentiment-recovers-870k-after-negotiations-with-the-hacker">then requested the hacker</a> to return 80% of the funds — allowing them to keep the remaining 20%. It also assured the hacker that they would cease legal action.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-06/10345290-b3f0-4279-a8be-faca9a2a3b7a.png" alt="" title="">
 <figcaption style="text-align: center;">
 UwU’s earlier onchain message to its hacker. Source: Etherscan
 </figcaption>
</figure>
<a href="https://cointelegraph.com/magazine/ethics-101-crypto-projects-negotiate-hackers/">However, no response was received</a> from the hacker, who went on to commit the second $3.7 million exploit shortly before UwU announced the $5 million bounty.
The second exploit occurred while UwU was starting to reimburse victims from the first $20.3 million exploit, which resulted from a <a href="https://cointelegraph.com/news/crypto-safekeeping-tips-hackers-scammers">price manipulation attack</a>.
Over $9.7 million has already been repaid to victims, <a href="https://x.com/UwU_Lend/status/1801115681988939868" target="_blank" rel="noopener nofollow">according</a> to a UwU Lend X post.
Related: <a href="https://cointelegraph.com/news/holograph-hacked-for-1-billion-hlg-tokens-worth-14-million">Holograph fell 80% in 9 hours after exploiter mints 1B additional HLG</a>
Despite now losing a combined $24 million, the UWU Lend token (UWU) is only down 20% to $2.51 over the last week, <a href="https://www.coingecko.com/en/coins/uwu-lend" target="_blank" rel="noopener nofollow">according</a> to CoinGecko.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-06/2c4d74e7-621e-4cde-bb62-5ee0608a3abb.png" alt="" title="">
 <figcaption style="text-align: center;">
 UWU’s change in price over the last week. Source: CoinGecko
 </figcaption>
</figure>
It now boasts a market cap of $22.6 billion.
Nearly $19 billion in<a href="https://cointelegraph.com/news/crypto-hacks-19-billion-13-years"> cryptocurrencies have been stolen</a> since the first industry hack was reported in June 2011, a recent Crystal Intelligence report shows. 
Magazine:&nbsp;<a href="https://cointelegraph.com/magazine/bitcoin-ogs-experts-how-to-protect-your-crypto/">How to protect your crypto in a volatile market — Bitcoin OGs and experts weigh in</a>

UwU Lend offers a $5M bounty to whoever catches its exploiter

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