UwU Lend Falls Victim to Attack Due to Price Oracle Issue

According to PANews, UwU Lend was attacked due to a problem with its price oracle. The pricing of the sUSDe asset, which was at the heart of the attack, is based on the median of multiple sources. During the attack, five of these sources, namely FRAXUSDe, USDeUSDC, USDeDAI, USDecrvUSD, and GHOUSDe, were manipulated by the hackers. The analysis was conducted by PeckShield, a blockchain security company. The attack on UwU Lend underscores the vulnerability of decentralized finance platforms to price oracle issues. Price oracles are third-party services that provide data on the current market price of assets. If manipulated, they can lead to significant losses for platforms and their users. In this case, the hackers were able to manipulate the price oracle to their advantage, leading to the attack on UwU Lend. This incident serves as a reminder of the importance of robust security measures in the world of decentralized finance.