UwU Lend, a decentralized lending protocol, suffered two major attacks in three days, resulting in a total loss of $24 million. The first attack, which took place on June 10, involved complex price manipulation using flash loans, stealing approximately $20.3 million in assets, including wrapped Ethereum (wETH), wrapped Bitcoin (wBTC), Curve DAO (CRV), Tether (USDT), and staked USDe (sUSDE). The second attack on June 13 resulted in a further loss of $3.7 million. Michael Patryn (Sifu), the founder of UwU Lend, offered a $5 million reward in Ethereum (ETH) for information leading to the identification and location of the hacker. The platform initially asked the hacker to return 80% of the stolen funds by June 12 in exchange for keeping 20% ​​and avoiding legal action, but received no response. Currently, the protocol has been suspended and has repaid more than $9.7 million to victims. Despite these setbacks, the UWU token has only lost 20% of its value in the past week. The incident highlights the persistent security vulnerabilities in the decentralized finance sector, with more than $19 billion in cryptocurrency stolen since June 2011.

Gai Lun: In fact, the hacker should have considered agreeing to the project's request to get 20% of the laundered 5 million. Now the 24 million is a bit difficult to handle, especially for the crypto community, which is increasingly strict about money laundering! #uwu