Looks like someone got a little too "greedy" with UwU Lend! This DeFi protocol fell victim to a nasty exploit, draining nearly $20 million in cryptocurrency. On-chain security firm Cyvers first spotted the suspicious activity and sent out a frantic tweet, "Attack is still ongoing! Amount might increase."

Within an hour, the situation escalated from "woof" to "meow-jesty" theft. The culprit, a cunning cybercriminal, managed to snag various digital assets from UwU Lend's pool and convert them all into Ethereum (ETH).

Experts are piecing together the details, but it seems the attacker used the infamous Tornado Cash crypto-mixing protocol to mask their tracks. Meir Dolev, CTO of Cyvers, described the exploit: "The attacker executed three transactions in just six minutes, swiping a whopping $20 million."

The UwU Lend team reacted swiftly, pausing the entire protocol within an hour to contain the damage. They assured users they're taking all necessary steps to investigate and recover stolen funds.

This isn't the first time DeFi has been in the crosshairs of hackers in 2024. According to Immunefi, the crypto industry lost over $473 million in May alone, with DeFi platforms bearing the brunt of the attacks.

The recent UwU Lend hack serves as a stark reminder of the ever-present security risks in the DeFi space. Hopefully, this incident will spur further innovation and focus on robust security measures to protect user funds and prevent future "meowlicious" exploits.