Recently, there was news about 918,000 CRV tokens being liquidated from an address linked to Curve Finance's founder, Michael Egorov. Egorov explained that these tokens were actually stolen during the UwU Lend hack on June 10, 2024. He mentioned that these tokens shouldn't be seen as 'real CRV' but rather as 'receipts for funds promised by Sifu to be repaid following the hack.'
Earlier reports highlighted that the lending protocol UwU Lend suffered another attack in June this year, resulting in a loss of approximately $3.72 million in assets.
These incidents have raised concerns within the crypto community about the security measures in place for such platforms. The repeated breaches underscore the ongoing challenges faced by decentralized finance protocols in safeguarding user assets against sophisticated cyber threats.
Stay safe out there, and always keep an eye on the security measures of the platforms you use.