Is UwU Lend Hack and CRV Burn Misinformation Affecting Investor Confidence?

Addressing the UwU Lend Hack and CRV Burn Misinformation: Curve CEO’s Perspective

Crypto News – Curve Finance (CRV) founder and CEO Michael Egorov commented on the recent UwU Lend hack, stating that Curve Finance was not the target of the crime.

This was not a Curve exploit. This was an exploit of a separate project, UwU Lend. …The hacker, as a part of cash-out play, deposited CRVs taken from UwU to lend.curve.fi (LlamaLend) and disappeared with the funds, leaving his debt in the system.

Egorov

In an effort to at least partially offset losses, Egorov emphasized safeguards against potential attacks and advised UwU Lend to “re-verify all contracts and connect them to good security auditors.”

Token Burning News Not Real, According to Egorov

According to the article by Cointelegraph, Egorov suggested burning 10% of the $37 million worth of CRV tokens to stabilize the token’s price and provide voters with a higher annual percentage payout. Egorov addressed the false statement of the team burning 10% of CRV tokens in the Q&A that followed.

This information was tweeted by a fake (impersonator) account, accompanied by a scam link. Few journalists did not fact-check the news and published news about this.

Egorov

On June 15, Egorov declared that the $10 million in bad debt resulting from soft liquidations brought on by the UwU exploit had been completely paid off.

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