The group behind the UwU Lend protocol is providing a $5 million bounty to whoever identifies its attacker after they pulled off a second exploit on the protocol.
“Compensation deadline for the funds you stole has handed. 5 Million Greenback bounty to the primary individual to establish and find you,” UwU wrote to the hacker in a June 13 onchain message after they didn’t switch 80% of the stolen funds earlier than UwU’s requested deadline — June 12 at 5:00pm UTC.
UwU claims the $5 million bounty could be in Ether (ETH) and that it will be paid out earlier than funds are recovered or prices are laid.
It comes as the identical hacker pulled off a second $3.7 million exploit, stealing funds from UwU’s uDAI, uWETH, uLUSD, uFRAX, uCRVUSD and uUSDT swimming pools on June 13, according to blockchain safety agency Cyvers.
Cyvers mentioned the 2 hacks have been carried out by the identical hacker pockets address “0x841…21f47.”
The way it all unfolded
The primary exploit noticed $20.3 million wiped from a price manipulation attack on June 10.
UwU then requested the hacker to return 80% of the funds — permitting them to maintain the remaining 20%. It additionally assured the hacker that they might stop authorized motion.
However, no response was received from the hacker, who went on to commit the second $3.7 million exploit shortly earlier than UwU introduced the $5 million bounty.
The second exploit occurred whereas UwU began reimbursing victims from the primary $20.3 million exploit, which resulted from a price manipulation attack.
Over $9.7 million has already been repaid to victims, according to a UwU Lend X submit.
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Regardless of now shedding a mixed $24 million, the UWU Lend token (UWU) is simply down 20% to $2.51 over the past week, according to CoinGecko.
It now boasts a market cap of $22.6 billion.
Almost $19 billion in cryptocurrencies have been stolen for the reason that first trade hack was reported in June 2011, a current Crystal Intelligence report exhibits.
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