After experiencing back-to-back attacks on UwU Lend, a decentralized lending and liquidity protocol, the team is now offering a bounty of $5 million to anyone who identifies the attacker, according to data from Etherscan. This bounty comes after the second attack on the lending platform on June 13, 2024. In a message, the UwU Lend team stated:
“Repayment deadline for the funds you stole has passed. $5 million bounty to the first person to identify and locate you, paid in ETH. No recovery of funds or charges required. Have a nice day.”
UwU Lend team message to attackers
In addition to this message, the lending protocol added that they would like to discuss a bounty with any parties involved in the recent $23 million UwU Lend exploit. They mentioned keeping 20% of the stolen funds as a white hat bounty, but in exchange, the attackers must return the remaining 80% to the protocol. If the attackers comply, the protocol will not take legal action against them. The UwU Lend team also added:
“You will face no risk of us pursuing this further and no risk of law enforcement issues. If you choose not to partake in the voluntary return and complete the process by June 12 at 17:00 UTC, we will expand the bounty to the public and offer the full 20% to the person who can identify you in a way that leads to your conviction in the courts. We will pursue you from all angles.”
What happens with UwU Lend?
These two massive attacks on the lending platform took place between June 10, 2024, and June 13, 2024, resulting in a loss of a staggering $23 million, according to data from blockchain security firm CertiK Alert and as reported by Todayq News. The attackers directed this incident through price oracle manipulation.
Following this series of attacks, the native token of UwU Lend was heavily impacted. According to data from CoinMarketCap, the UWU token is currently trading near $2.47, and in the last 24 hours, it experienced a 7% price drop. Over the past 7 days, due to these exploits, it experienced a price drop of 22%.
