Incident Overview
Michael Egorov, the founder of decentralized finance protocol Curve Finance, has provided insights into the recent security breach involving the UwU Lend project. Egorov clarified that the exploit did not directly affect Curve Finance’s core systems but targeted the separate UwU Lend project.
Hack Mechanics
The hackers managed to withdraw CRV tokens from UwU Lend and subsequently deposited them into Curve’s LlamaLend platform. Following the deposit, the attackers absconded with the funds, effectively leaving a trail of debt within the system.
Moving Forward
In response to the incident, Egorov has urged UwU Lend to conduct a thorough re-verification of all its contracts. He also recommended that they engage with top-tier security auditors to address any vulnerabilities and to aid in the recovery of the lost funds.
