UwU Lend has experienced a significant attack resulting in the theft of over $19 million in tokens. The attacker exploited price manipulation techniques to carry out the heist, using flash loans to orchestrate the scheme. Initially, the attacker used a flash loan to swap $USDe for other tokens, causing the price of $USDe and $sUSDe to drop. Capitalizing on this price drop, the attacker deposited some of these tokens into UwU Lend and borrowed more $sUSDe than the platform would typically allow. Next, the attacker manipulated the price of $USDe to drive it higher. Using the inflated value, they deposited
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