DeFi protocol UwU Lend has been hit by another security breach, resulting in a $3.7 million loss. This follows a $19.3 million hack on June 10. The stolen funds, sourced from various asset pools, have been converted into Ethereum and transferred to the attacker's address. Despite these setbacks, the UwU Lend team has been proactive in addressing the issues, identifying the vulnerability and conducting independent audits of all other markets.

In response to the initial breach, UwU Lend implemented immediate measures to mitigate the damage and paused the protocol temporarily. They assured users that no funds had been permanently lost and that all functions would resume promptly.

In an effort to reimburse its users, UwU Lend has so far successfully returned a total of $9,715,288 to affected users. The team remains optimistic, stating that the protocol will repay all bad debt as quickly as reasonably possible.

UwU Lend, a fork of the open-source AAVE v2 protocol, offers various DeFi services such as lending, borrowing, and staking. Despite the recent challenges, the platform continues to demonstrate resilience and commitment to its users.