Decentralized lending platform UwU Lend has unfortunately become the latest victim of a malicious hacker attack. According to blockchain security company Arkham, attackers stole up to $19.3 million in funds.
At present, the specific cause of the attack has not been determined, but some users have begun to suspect that the project founder is behind it.
UwU Lend loses $19.3 million
UwU Lend, a platform forked from the open source code of Ethereum lending protocol AAVE v2, provides a variety of services including lending and staking. The platform promises to distribute 100% of all revenue to users in the form of UwU tokens.
Although UwU Lend claims on its official website that it has not been hacked since its establishment in 2022, the incident makes it part of many security incidents in the DeFi field.
On-chain data shows that the attacker has moved the stolen funds through multiple wallet addresses. A crypto user who reported the vulnerability on the blockchain browser Etherscan pointed out that the attacker used Curve LlamaLend as a tool to exit liquidity.
As of this writing, the UwU Lend development team has confirmed the attack and is taking steps to recover the funds. The team said: "The protocol was suspended about an hour ago and the team is investigating the situation. We took the necessary measures as soon as we became aware of the issue and are doing our best to handle it. Please look forward to our further updates."
Insider manipulation?
In addition, due to the lack of clear investigation reports, some users began to accuse the project founder of possible involvement in the attack. UwU Lend was launched in September 2022 by Michael Patryn, co-founder of the bankrupt Canadian cryptocurrency exchange Quadriga CX. Patryn was previously found to have transferred millions of dollars worth of ETH while serving as the treasurer of Wonderland DAO.
However, due to Patryn's comeback as Sifu, the leader of the UwU team, and his past history, some community members have expressed doubts about his involvement in the theft of funds, although these suspicions currently lack evidence to support them. #DEFI #黑客攻击 #UwULend #安全问题
Conclusion:
The UwU Lend hack once again highlights the security challenges facing the DeFi space. Although the team is actively responding and taking measures to recover losses, the community's doubts about the founder also reflect general concerns about the transparency and credibility of DeFi projects.
This incident reminds all DeFi users and developers that security is always the top priority, and that in-depth review of the team behind the project is also required.
As the investigation deepens, we hope to reveal the truth and provide valuable security experience and lessons for UwU Lend users and other DeFi participants.