{"id":81330,"date":"2024-06-14T12:48:43","date_gmt":"2024-06-14T16:48:43","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=81330"},"modified":"2024-06-14T12:49:44","modified_gmt":"2024-06-14T16:49:44","slug":"uwu-lend-announces-5m-bounty-as-hacker-launders-stolen-funds","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/uwu-lend-announces-5m-bounty-as-hacker-launders-stolen-funds\/","title":{"rendered":"UwU Lend Announces $5m Bounty as Hacker Launders Stolen Funds"},"content":{"rendered":"\n

A $5 million reward has been announced by the decentralized lending network UwU Lend<\/a> to “identify and locate” the exploiter.<\/p>\n\n\n\n

\"UwU
UwU Lend Announces $5m Bounty as Hacker Launders Stolen Funds<\/figcaption><\/figure>\n\n\n\n

The creators of UwU Lend are offering up to $5 million “to the first person to identify and locate” a hacker who took advantage of the protocol to obtain cryptocurrency valued at over $23 million. <\/p>\n\n\n\n

The UwU Lend team, who anticipated receiving 80% of the stolen funds back in exchange for a 20% reward, established a deadline that the attacker missed, and soon after that, the bounty was made public.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The hacker began channeling the stolen assets through Tornado Cash<\/a>, a mixing service approved by the Office of Foreign Assets Control (OFAC) of the U.S. Department of Treasury for facilitating about $7 billion in cryptocurrency laundering since 2019, as crypto investigator @CryptoEvgen reported in their X account.\u00a0<\/p>\n\n\n\n

\n

UwU Lend hacker deposited 500 #ETH\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> to Tornado.#hack<\/use><\/svg><\/span><\/a> #exploit<\/use><\/svg><\/span><\/a> #ethereum<\/use><\/svg><\/span><\/a> pic.twitter.com\/0JV6a6vgsJ<\/use><\/svg><\/span><\/a><\/p>— Evgenii (@CryptoEvgen) June 14, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

It is believed that the hacker has already laundered at least 500 ETH as of publication, equivalent to about $1.7 million at the current market value<\/a>. The same hacker targeted UwU Lend, which uses the open-source AAVE v2 code, twice in less than three days, conducting what looked like flash loan assaults that compromised several liquidity pools. <\/p>\n\n\n\n

Established by Michael Patryn, alias “0xSifu” or Omar Dhanani, a co-founder of the now-defunct QuadrigaCX exchange, UwU Lend offers lending, borrowing, and staking services<\/use><\/svg><\/span><\/a>. The platform's native token, UwU, is used to distribute platform income.<\/p>\n","protected":false},"excerpt":{"rendered":"

A $5 million reward has been announced by the decentralized lending network UwU Lend to “identify and locate” the exploiter. The creators of UwU Lend are offering up to $5 million “to the first person to identify and locate” a hacker who took advantage of the protocol to obtain cryptocurrency valued at over $23 million. […]<\/p>\n","protected":false},"author":43,"featured_media":81331,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[2119,2118,20005],"class_list":["post-81330","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-funds","tag-hacker","tag-uwu-lend"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/06\/croc_1718380495233.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/81330","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=81330"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/81330\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/81331"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=81330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=81330"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=81330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}