According to Odaily, the UwU Lend protocol has been targeted by hackers, resulting in a loss of nearly $20 million. The ongoing attack has seen the hackers extracting and converting different assets such as WBTC and DAI into ETH.
Meir Dolev, the Chief Technical Officer and co-founder of the blockchain security company Cyvers, has stated that the team is still investigating the incident. The attack is still in progress, with the hackers continuing to extract assets from the pool and convert them into ETH.
The loss of $20 million is a significant blow to the UwU Lend protocol. The attack highlights the ongoing security challenges faced by blockchain protocols and the need for robust security measures to protect against such incidents. The investigation by Cyvers is expected to provide more insights into the nature of the attack and potential measures to prevent such incidents in the future.
