The decentralized lending blockchain protocol UwU Lend has announced a $5 million bounty reward to anyone who can provide information leading to the identification and location of the hacker behind the two recent exploits that drained $24 million in cryptocurrency.
The first attack on UwU Lend protocol occurred on June 10, resulting in a loss of 20.3 million. The second attack, which took place on June 13, where the attacker could steal an additional 3.7 million from various UwU pools.
UwU Lend team offered the attacker a deal to return 80% of the stolen funds by June 12th in exchange for keeping 20% as a “white hat” reward. The protocol stated no legal action would be taken if the hacker complied.
The deadline passed without the hacker returning the majority of funds. And to make matters worse, the same hacker struck again on June 13th, draining an additional $3.7 million from UwU’s uDAI, uWETH, uLUSD, uFRAX, uCRVUSD, and uUSDT pools.
UwU Lend announced the $5 million bounty paid in Ethereum for any information that can locate the hacker. The bounty is open to anyone who can provide information that leads to the identification and location of the exploiter. This can include revealing the identity of the hacker.
For those interested in contributing to the investigation, a link to the exploiter on Arkham Intelligence is provided, along with a bounty link for those who wish to participate.
As the investigation continues, UwU Lend has already started reimbursing victims, with over $9.7 million reportedly repaid. The protocol is committed to recovering from this setback and ensuring that justice is served.
According to UwU Lend team latest update, the recent exploits have identified and resolved the vulnerability that was unique to the sUSDe market oracle which enabled the price manipulation attack. The UwU Lend team has committed to repaying all of the bad debt from the exploits as quickly as reasonably possible.
