{"id":13828,"date":"2024-06-14T04:17:14","date_gmt":"2024-06-14T04:17:14","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/?p=13828"},"modified":"2024-06-14T04:17:14","modified_gmt":"2024-06-14T04:17:14","slug":"defi-platform-uwu-lend-faces-repeat-attack-worth-3-7-million-amid-reimbursement-procedure","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/defi-platform-uwu-lend-faces-repeat-attack-worth-3-7-million-amid-reimbursement-procedure\/","title":{"rendered":"DeFi Platform UwU Lend Faces Repeat Attack Worth $3.7 Million Amid Reimbursement Procedure"},"content":{"rendered":"\n<p>The DeFi lending platform, UwU Lend, has encountered two attacks in recent days. The latest breach took place during the reimbursement phase following the first attack, resulting in a total loss of approximately $23 million for the protocol.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Second_37_Million_Attack_Strikes_DeFi_Platform\"><\/span>Second $3.7 Million Attack Strikes DeFi Platform<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>UwU Lend suffered a significant blow on June 10 when hackers exploited a vulnerability leading to a $19.3 million loss. The attack leveraged flash loans, prompting the project to halt operations temporarily to safeguard most assets for users.<\/p>\n<p><\/p>\n<p>To rectify the situation, the UwU Lend team offered a $4 million reward for the return of the stolen funds and identified the assets taken, including wETH, wBTC, CRV, USDT, sUSDE, among others.<\/p>\n<p>Security firm Beosin disclosed that the attacker manipulated the USDe price through token swaps, affecting its market value. Following identification of the vulnerability unique to the sUSDE oracle, a fix was implemented promptly.<\/p>\n<p>By addressing the issue, UwU Lend resumed its operations, ensuring the return of funds and assuring users that their assets remained secure within the platform.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Repeat_Attack_Raises_Concerns\"><\/span>Repeat Attack Raises Concerns<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Thursday saw UwU Lend face another attack during its reimbursement process, resulting in a $3.7 million loss. The hacker converted the stolen funds back to ETH after targeting pools like uDAI, uWETH, uLUSD, and more.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"size-large wp-image-305452 aligncenter\" src=\"https:\/\/www.bitrabo.com\/discover\/wp-content\/uploads\/2024\/06\/1718338625_648_DeFi-Protocol-UwU-Lend-Suffers-Second-37-Million-Attack-During.png\" alt=\"DeFi\" width=\"599\" height=\"588\" data-recalc-dims=\"1\" \/><\/p>\n<p>Concerns surfaced within the crypto community regarding the safety of funds stored on UwU Lend, with some users expressing skepticism over the platform&#8217;s security measures.<\/p>\n<p>While investigations are ongoing to address these breaches, questions have emerged about the management of vulnerabilities within the protocol and the handling of collateral assets.<\/p>\n<p><img decoding=\"async\" class=\"size-large wp-image-305451 aligncenter\" src=\"https:\/\/www.bitrabo.com\/discover\/wp-content\/uploads\/2024\/06\/1718338625_95_DeFi-Protocol-UwU-Lend-Suffers-Second-37-Million-Attack-During.png\" alt=\"ETH, ETHUSDT, Ethereum, DeFi\" width=\"980\" height=\"551\" data-recalc-dims=\"1\" loading=\"lazy\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The DeFi lending platform, UwU Lend, has encountered two attacks in recent days. The latest breach took place during the reimbursement phase following the first attack, resulting in a total loss of approximately $23 million for the protocol. Second $3.7 Million Attack Strikes DeFi Platform UwU Lend suffered a significant blow on June 10 when [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13829,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"DeFi Platform UwU Lend Faces Repeat Attack Worth $3.7 Million Amid Reimbursement Procedure - Bitrabo","description":"The DeFi lending platform, UwU Lend, has encountered two attacks in recent days. The latest breach took place during the reimbursement phase following the first"},"footnotes":""},"categories":[316],"tags":[4896,2728,551,4893,561,4894,1340,1681,4897,4895,772,4892],"class_list":["post-13828","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-3-7-million-attack","tag-attack","tag-defi","tag-lend","tag-million","tag-process","tag-protocol","tag-reimbursement","tag-reimbursement-process","tag-second","tag-suffers","tag-uwu"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/13828","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=13828"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/13828\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/13829"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=13828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=13828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=13828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}