Defi Protocol UwU Lend Suffers $19.3M Exploit: Arkham
Summary
UwU Lend, a lending and liquidity protocol, has experienced an exploit resulting in a loss of $19.3 million. The exploit involved one wallet siphoning off a variety of tokens including wrapped ether (WETH), wrapped bitcoin (WBTC), and stablecoins, which were then largely traded on Uniswap. The method of the exploit remains unknown. UwU Lend was established by Quadriga CX founder Michael Patryn, also known as "Sifu". Prior to launching UwU Lend, Patryn faced a challenging period when Quadriga CX collapsed and an address associated with him transferred $5.5 million worth of ether (ETH) to the now sanctioned coin mixer Tornado Cash in 2022, during his tenure as treasurer for the Wonderland DAO.
