UwU Lend Offers $5 Million Bounty to Identify Persistent Hacker

The UwU Lend protocol team announced a $5 million reward for information of the attacker who executed a second exploit on the protocol. The move comes after the hacker ignored the platform’s deadline to return 80% of the stolen funds from the first exploit.

UwU Lend Addresses Hacker Directly

The hacker drained an additional $3.7 million from liquidity pools, including uDAI, uWETH, uLUSD, uFRAX, uCRVUSD, and uUSDT. Moreover, blockchain security firm Cyvers confirmed that both exploits were conducted by the same wallet address, “0x841…21f47,” linking the incidents.

In an on-chain message dated June 13, UwU Lend addressed the hacker directly: 

“Repayment deadline for the funds you stole has passed. 5 Million Dollar bounty to the first person to identify and locate you.” 

UwU posted the message after the hacker failed to transfer back the majority of the stolen assets by the set deadline of June 12 at 5:00 PM UTC.

Initial Attack

UwU Lend has been proactive in mitigating the impact on its users. The platform has already reimbursed over $9.7 million to victims of the first exploit.

The initial attack on June 10 resulted in a significant loss of $20.3 million, attributed to a price manipulation exploit. It is important to note that blockchain addresses associated with hackers have once again become active recently.

Following this, UwU Lend attempted to negotiate with the hacker, offering to let them keep 20% of the stolen funds and guaranteeing no legal repercussions if the remaining 80% were returned. However, this warning went unanswered, and the hacker proceeded with another exploit as the deadline ended.

UwU Offers Bounty

The $5 million bounty, payable in Ether, aims to reward the crypto community in an attempt to track down the attacker. Notably, UwU Lend has stated that this bounty will be awarded regardless of whether the stolen funds are recovered or charges are pressed against the hacker.

Interestingly, the UwU Lend token (UWU) witnessed a significant decline in its price following the hack. In the last seven days, the token’s price has dropped by 20% to $2.51, as per CoinGecko, maintaining a market cap of $22.6 billion.