UwU Lend, a lending and liquidity protocol, was reportedly targeted with an exploit amounting to $19.3 million.
A recent malicious hack targeted the decentralized lending platform. Reports from a blockchain security company Arkham It suggests that unknown perpetrators stole $19.3 million from the lending protocol.
The incident highlights persistent security vulnerabilities in the DeFi sector, raising concerns about the safety of digital assets on decentralized platforms.
Penetration
Blockchain data indicates that the perpetrator transferred the stolen funds through multiple wallet addresses. According to a cryptocurrency user on blockchain explorer Athirscanthe perpetrator used Curve LlamaLend as the “exit liquidity” for the attack.
On-chain data shows that a single wallet captured a range of cryptocurrencies, including wrapped ether (WETH), wrapped bitcoin (WBTC), and stablecoins, before most of them were traded on Uniswap.
UwU Lend claims it has never been hacked since its inception in 2022, but it… to publish On
UwU Lend is based on the open source AAVE v2 code and offers lending, borrowing and mortgage services. Users receive 100% of the platform's revenue in the form of a token called UwU.
