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UwU Lend Protocol Hacked for Nearly $20 Million in Ongoing Cryptocurrency Exploit
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In an ongoing security breach, the decentralized finance (DeFi) protocol UwU Lend was hacked on Monday for nearly $20 million.
UwU Lend, known for its role as a decentralized finance protocol, allows users to deposit and borrow digital assets, functioning as a liquidity market within the DeFi ecosystem. The exploit, first identified by on-chain security firm Cyvers, has rapidly become a major incident affecting multiple digital assets.
Cyvers initially discovered the exploit, which alerted UwU Lend via a June 10 X post.
The situation quickly escalated as, within an hour, the amount stolen surpassed $20 million.
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