UwU Lend offers a reward of 5 million dollars to anyone who catches the exploiter
The team behind the UwU lending protocol is offering a $5 million reward for anyone who identifies the attacker after busting a second exploit on the protocol.
“The deadline for paying the money you stole has passed. 5 million dollar reward for the first person to identify and find it,” UwU wrote in an on-chain message to the hacker on June 13. 80% of the stolen money was delivered before UwU's requested deadline – June 12 at 5:00 UTC.
UwU said the $5 million bonus will be in Ether (ETH) and will be paid before funds are returned or lawsuits are filed.
This comes after the same hacker pulled off a second $3.7 million exploit on June 13, stealing funds from UwU's uDAI, uWETH, uLUSD, uFRAX, uCRVUSD and uUSDT pools, according to blockchain security firm Syvers.
Syvers says the two hacks were carried out using the same hacker's wallet address “0x841…21f47”.
How did they all unfold?
The first exploit on June 10 netted $20.3 million in price manipulation.
UwU then asked the hacker to return 80% of the money – allowing them to keep the remaining 20%. He also assured the hacker that they would stop legal action.
However, there was no response from the hacker, who carried out a second $3.7 million exploit shortly before UWU announced the $5 million reward.
The second exploit occurred when UwU began compensating victims of the first exploit of $20.3 million, which resulted from a price-fixing attack.
According to the UwU Lend X post, more than $9.7 million has been paid out to victims.
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Despite now losing a total of $24 million, the UWU Lend token (UWU) fell 20% to $2.51 last week, according to CoinGecko.
It now has a market value of $22.6 billion.
Since the first industry hack was reported in June 2011, nearly $19 billion has been stolen, according to a Crystal Intelligence report.
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