Friday, June 27, 2025
No Result
View All Result
Coins League
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
Marketcap
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
No Result
View All Result
Coins League
No Result
View All Result

Hacker drains $19.5 million from UwU Lend in price oracle exploit

June 10, 2024
in Crypto Exchanges
Reading Time: 2 mins read
0 0
A A
0
Home Crypto Exchanges
Share on FacebookShare on TwitterShare on E Mail



Blockchain safety agency Cyvers Alert reported a big exploit on the DeFi lending protocol UwU Lend, which resulted in an roughly $19.5 million loss.

The attacker funded their pockets through the sanctioned crypto mixer Twister Money.

Cyvers co-founder and CTO Meir Dolev informed CryptoSlate in a June 10 assertion:

“The UWU lending contract was exploited by an attacker that executed three transactions in six minutes and drained roughly $20 million.”

On-chain knowledge reveals that the attacker’s pockets moved a number of digital belongings, together with wrapped Ethereum (WETH), wrapped Bitcoin (WBTC), and stablecoins like USDC. The attacker’s tackle has been tagged because the UwU Lend Exploiter on Etherscan.

Web3 safety agency PeckShield additional corroborated the incident, including that the foundation explanation for the assault was a worth oracle situation. It mentioned:

“Particularly, the sUSDe asset is priced as median from a number of sources. 5 of them, i.e., FRAXUSDe, USDeUSDC, USDeDAI, USDecrvUSD, and GHOUSDe, had been manipulated throughout the hack.”

In the meantime, UwU Lend confirmed the incident and instantly paused its platform. The protocol mentioned:

“[We are] taking all needed steps [and] doing our greatest right here. Keep tuned for additional updates.”

TVL surge?

Regardless of the exploit, the full worth of belongings locked on the DeFi protocol UwU Lend surged by 135% within the final 24 hours.

Information from DeFiLlama reveals that UwU Lend presently holds over 82,000 ETH, valued at $305 million. Nevertheless, roughly $247 million of those funds are borrowed.

UwU Lend was developed by Michael Patryn — often known as Sifu or 0xSifu — the controversial founding father of the defunct Quadriga CX trade. The platform allows depositors to supply liquidity to earn passive earnings, whereas debtors can acquire liquidity in an over-collateralized method. Moreover, liquidity suppliers provide liquidity and earn income by staking their LP tokens.

Posted In: Ethereum, Hacks
Newest Alpha Market Report



Source link

Tags: DrainsexploithackerLendmillionOraclePriceUwU
Previous Post

Solana (SOL) Heavyweights Wage War Against Private Mempool Operators

Next Post

Trump Is The Best Choice For Bitcoin

Related Posts

Blockchain

CLT Token Is Redefining E-Sports Economics with Blockchain: Fair Rewards, Real Ownership, and a Player-Driven Future

June 26, 2025
Introducing Target Model Smart Portfolios
Crypto Exchanges

Introducing Target Model Smart Portfolios

June 26, 2025
World Liberty Financial advances WLFI plans amid public interest
Crypto Exchanges

World Liberty Financial advances WLFI plans amid public interest

June 26, 2025
WazirX gains crucial extension to revive post-hack restructuring plan
Crypto Exchanges

WazirX gains crucial extension to revive post-hack restructuring plan

June 24, 2025
Oil, Dollar, and Trade in Focus
Crypto Exchanges

Oil, Dollar, and Trade in Focus

June 23, 2025
Kazakhstan spearheads crypto progress with Solana Economic Zone
Crypto Exchanges

Kazakhstan spearheads crypto progress with Solana Economic Zone

June 23, 2025
Next Post
Trump Is The Best Choice For Bitcoin

Trump Is The Best Choice For Bitcoin

Over 200 BTC From 2013 and 2012 Wallets Awaken, Now Valued at Over $14M

Over 200 BTC From 2013 and 2012 Wallets Awaken, Now Valued at Over $14M

Seven top central processing unit (CPU) use cases

Seven top central processing unit (CPU) use cases

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Twitter Instagram LinkedIn RSS Telegram
Coins League

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at Coins League

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITEMAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In