UwU Lend Hacked Again: $3.7 Million Stolen in Second Flash Loan Attack This Week

UwU Lend Hacked Again: $3.7 Million Stolen in Second Flash Loan Attack This Week

Decentralized lending protocol UwU Lend has fallen victim to a significant hack, with attackers making off with $3.7 million, as reported by blockchain security firms Beosin and Blocksec. This incident is the second flash loan attack on UwU Lend this week, with experts linking both breaches to the same individual.

Following the theft, the $3.7 million in assets were converted to ether and remain in the hacker’s wallet address. The first attack occurred on June 10, resulting in a $20 million loss. Beosin determined that this previous exploit involved the manipulation of price oracles for the sUSDe stablecoin on the platform.

In response to the initial breach, UwU Lend issued a statement acknowledging the exploit and provided an update the next day, claiming that they had identified and resolved the security vulnerability. They specified that the issue was confined to the sUSDe market oracle.

UwU Lend was founded by Michael Patryn, also known by the aliases Omar Dhanani and 0xSifu. Patryn is a controversial figure, having co-founded QuadrigaCX, a cryptocurrency exchange that collapsed amid fraud allegations.

Despite repeated requests, UwU Lend has not responded to The Block for comments on the latest incident.