- UwU Lend has established a $5 million Ethereum reward for “the first person to identify and locate” the exploiter.
- If the exploiter restored the remaining 80% of the stolen monies, the protocol would have allowed them to keep 20% of the money, but they chose not to.
The procedure is launching another effort to apprehend the offender after the UwU Lend exploiter was unable to reimburse cash.
An Input Data Message (IDM) on Ethereum states that UwU Lend has set up a $5 million ETH bounty for the first individual to discover and track down the exploiter. The IDM further states that there is no requirement for any kind of fund recovery or charges.
The protocol has previously talked about paying the exploiter directly with a bounty. As long as the attacker returned 80% of what they had taken, they might keep 20% of it. The policy said that if the exploiter cooperated, it would end the investigation and not notify law authorities of the event.
The deadline for the exploiter to return the funds was set for Wednesday. But on Thursday, the exploiter received a notice from the protocol informing them that the deadline for restoring the money you stole has gone.
The mischievous
The hacker initially targeted UwU Lend on Monday, compromising flash loans and causing a $20 million loss. The protocol lost a another $3.7 million on Thursday. According to security experts, the same person carried out both hacks.
A decentralized liquidity market protocol called UwU Lend enables users to stake, borrow, and deposit assets.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
