UwU Lend, a DeFi protocol founded by Michael “Sifu” Patryn, has experienced a significant exploit resulting in a loss of approximately $19.5 million, according to blockchain security firms including Cyvers Alert and Arkham Intelligence. The attacker funded their wallet through the crypto mixer Tornado Cash and exploited a price oracle issue to manipulate asset prices, draining around $20 million in just six minutes through three transactions. The stolen assets, including wrapped Ethereum (WETH), wrapped Bitcoin (WBTC), and stablecoins, were moved and traded primarily on Uniswap.
UwU Lend has paused its platform and is taking steps to address the incident but has yet to release a detailed official statement. The protocol previously offered high-yield opportunities and robust asset management features, generating revenue for users, particularly liquidity providers and xUwU staking system participants.