2024

UwU Lend

Tornado Cash

Tornado

<p class="is-style-lead">Decentralized lending protocol UwU Lend has unveiled a $5 million bounty to “identify and locate” the exploiter.</p> 
<p>Developers of UwU Lend <a href="https://etherscan.io/idm?addresses=0x5dd596c901987a2b28c38a9c1dfbf86fffc15d77,0x841ddf093f5188989fa1524e7b893de64b421f47&amp;type=1" target="_blank" rel="">are promising</a> to pay up to $5 million “to the first person to identify and locate” a hacker, who exploited the protocol for over $23 million worth of crypto. The <a href="https://crypto.news/tag/bounty/" target="_blank" rel="">bounty</a> was announced shortly after the attacker missed the deadline set by the UwU Lend team, who expected the return of 80% of the stolen funds in exchange for a 20% reward.</p> 
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<p>As crypto investigator @CryptoEvgen <a href="https://x.com/CryptoEvgen/status/1801509642834493711" target="_blank" rel="">noted</a> in their X account, the hacker started funneling the stolen assets via <a href="https://crypto.news/tag/tornado-cash/" target="_blank" rel="">Tornado Cash</a>, a mixing service <a href="https://crypto.news/tornado-cash-case-crypto-anonymity-vs-regulation/" target="_blank" rel="">sanctioned</a> by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) for facilitating approximately $7 billion in crypto laundering since 2019.</p> 
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   <p lang="en" dir="ltr">UwU Lend hacker deposited 500 <a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#ETH</a> to Tornado.<a href="https://twitter.com/hashtag/hack?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#hack</a> <a href="https://twitter.com/hashtag/exploit?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#exploit</a> <a href="https://twitter.com/hashtag/ethereum?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#ethereum</a> <a href="https://t.co/0JV6a6vgsJ" target="_blank" rel="">pic.twitter.com/0JV6a6vgsJ</a></p>— Evgenii| BLIN Analytics (@CryptoEvgen) <a href="https://twitter.com/CryptoEvgen/status/1801509642834493711?ref_src=twsrc%5Etfw" target="_blank" rel="">June 14, 2024</a>
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<p> You might also like: <a href="https://crypto.news/uwu-lend-suffers-its-second-3-7m-hack-by-same-attacker/" rel=""> UwU Lend suffers its second $3.7m hack by same attacker </a> </p> 
<p>As of press time, it’s understood that the hacker has already laundered at least 500 ETH, valued at approximately $1.7 million at current market prices.</p> 
<p>UwU Lend, which leverages the open-source AAVE v2 code, suffered two separate attacks from the same hacker in less than three days, executing what appears to be <a href="https://crypto.news/tag/flash-loan/" target="_blank" rel="">flash loan attacks</a> that compromised multiple liquidity pools.</p> 
<p>Founded by Michael Patryn, also known as Omar Dhanani or “0xSifu” — a co-founder of the now-defunct QuadrigaCX exchange — UwU Lend provides lending, borrowing, and staking services while distributing platform revenues through its native token, UwU.</p> 
<p> Read more: <a href="https://crypto.news/bnb-chain-exploited-in-flash-loan-attack-attacker-snags-1-27m/" rel=""> BNB Chain exploited in flash loan attack, attacker snags $1.27M </a> </p>

UwU Lend announces $5m bounty as hacker starts laundering stolen funds via Tornado Cash

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