The UwU Lend faces a fresh blow as attackers exploit a vulnerability yet again, stealing $3.5 million during the ongoing $20 million reimbursement process.
Just days after a significant hack for nearly $20 million on June 10th, on-chain data analysis firm Cyvers alerted UwU Lend about a new exploit. Alarmingly, analysts believe the attackers are the same ones responsible for the initial heist.
https://twitter.com/CyversAlerts/status/1801160124033093748
This latest attack targeted various asset pools within the protocol, including uDAI, uWETH, uLUSD, uFRAX, uCRVUSD, and uUSDT. The stolen funds were swiftly converted into Ethereum and are currently traced to a specific attacker address: 0x841dDf093f5188989fA1524e7B893de64B421f47.
The incident throws a wrench into UwU Lend’s attempt to compensate users affected by the first hack. Rebuilding trust and securing its platform becomes even more critical for UwU Lend in the face of this double attack.
Hello UwU Frens!
We are happy to announce that all bad debt for the $wETH market has been repaid! A total of 481.36 $wETH ($1,734,042), covering all bad debt for the market, has been paid.
• https://t.co/IeMIkaW7cM— UwU Lend (@UwU_Lend) June 13, 2024
This incident highlights the evolving tactics of cybercriminals targeting the burgeoning DeFi (decentralized finance) space. As these platforms offer lucrative opportunities, robust security measures become paramount to ensuring user confidence.
