Defi Protocol UwU Lend Suffers $19.3M Exploit

Lending and liquidity protocol UwU Lend has suffered an exploit worth $19.3 million, according to several blockchain security firms including Arkham. On-chain data shows that one wallet managed to siphon a collection of tokens including wrapped ether (WETH), wrapped bitcoin (WBTC) and stablecoins before trading the majority of it out on Uniswap. UwU Lend is a lending protocol set up by Quadriga CX founder Michael Patryn, who goes by the moniker "Sifu." Patryn endured a turbulent period before releasing UwU Lend. Quadriga CX collapsed and soon after an address linked to Patryn transferred $5.5 million worth of ether (ETH).

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