Crypto News

UwU Lend Faces Repeated Attacks, Loses $20.8M in ETH, But Repays Bad Debt

UwU Lend (@UwU_Lend) has been hit by another attack, losing 1,064 ETH (approximately $3.7 million) just a few hours ago.

This follows a series of three attacks two days ago, during which the platform lost a total of 4,907 ETH (around $17.1 million). In total, UwU Lend has suffered losses amounting to 5,971 ETH (approximately $20.8 million) from these incidents.

In response to these significant breaches, UwU Lend announced on X that they have successfully repaid all bad debt in the $wETH market. The repayment includes a total of 481.36 $wETH (valued at $1,734,042), which covers all bad debt for the market.

Detailed Repayments Made By UwU Lend

So far, the repayments made by UwU Lend include:
– 3,522,427 $DAI
– 233,819 $crvUSD
– 4,225,000 $USDT
– 481.36 $wETH (worth $1,734,042)

The total repayment amounts to $9,715,288.

The UwU Lend team is actively working to mitigate the impact of these attacks and ensure the platform’s stability. Their swift action in repaying the bad debt demonstrates their commitment to maintaining trust and security for their users.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.

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Image Source: serezniy/123RF// Image Effects by Colorcinch

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