Ethereum (ETH)-based decentralized finance (DeFi) protocol UwU Lend simply suffered a safety breach that siphoned $23 million price of crypto from its platform.
In a put up on social media platform X, the crew behind UwU Lend says the protocol shall be paused till the investigation of the exploit has concluded.
“Yesterday UwU Lend was the goal of an exploit involving a classy assault. The crew reacted swiftly and the protocol was paused inside minutes. Charges for borrows and deposits have been set to 0% so customers’ positions is not going to be affected by this pause.”
UwU Lend already made a proposal to the hacker and is now awaiting a response. In an on-chain message, the lending and liquidity protocol says the exploiter will get a white hat bounty in alternate for returning the stolen property.
“UwU Lend want to talk about a bounty with any events concerned within the current UwU Lend exploit. We’re providing a 20% white hat bounty of any funds taken, which you’ll maintain for those who return the remaining 80% to uwulend.eth. You’ll face no threat of us pursuing this additional and no threat of regulation enforcement points.”
The exploiter has till 5 PM on June twelfth to voluntarily return the property. In any other case, UwU Lend says it should provide the bounty to the general public and reward 20 p.c to anybody who can determine the hacker in a approach that may result in a conviction in courtroom.
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