Defi Protocol UwU Lend Suffers $19.3M Exploit: Arkham

Lending and liquidity protocol UwU Lend has suffered an exploit worth $19.3 million, according to several blockchain security firms including Arkham.

On-chain veri shows that one wallet managed to siphon a collection of tokens including wrapped ether (WETH), wrapped bitcoin (WBTC) and stablecoins before trading the the majority of it out on Uniswap.

It is currently unclear how the exploit took place. UwU Lend has not updated its X page and did not respond to CoinDesk’s request for comment.

UwU Lend is a lending protocol set up by Quadriga CX founder Michael Patryn, who goes by the moniker “Sifu.”

Patryn endured a turbulent period before releasing UwU Lend. Quadriga CX collapsed and soon after an address linked to Patryn transferred $5.5 million worth of ether (ETH) to now sanctioned coin mixer Tornado Cash in 2022, whilst he was the treasurer for the Wonderland DAO.

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