UwuLend
Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.
anchored·31AyuC…FKGLSummary
UwU Lend is an Ethereum-based DeFi lending protocol forked from Aave, founded in September 2022 by Michael Patryn (pseudonym 0xSifu), co-founder of the collapsed Canadian crypto exchange QuadrigaCX. In June 2024, the protocol suffered two successive exploits totaling approximately $23 million — a $19.3 million oracle manipulation attack on June 10 followed by a $3.7 million secondary drain on June 13 by the same attacker — rendering it one of the largest DeFi hacks of 2024. The protocol's association with a founder carrying prior criminal convictions and a history of involvement in failed or scandal-ridden crypto ventures constitutes a persistent and material reputational and risk concern.
Connected Entities
1 entities- + 2 more
Timeline(12 events)
2005
Omar Dhanani (later Michael Patryn) pleads guilty to conspiracy to transfer identification documents in connection with the Shadowcrew online fraud marketplace; sentenced to 18 months in U.S. federal prison.
2007
Dhanani pleads guilty to separate charges of burglary, grand larceny, and computer fraud. Subsequently deported to Canada after serving his sentence.
2013
Michael Patryn co-founds QuadrigaCX with Gerald Cotten. The exchange would grow to become Canada's largest crypto exchange.
2016
Patryn departs QuadrigaCX.
2019
QuadrigaCX collapses following the reported death of CEO Gerald Cotten; over 76,000 users lose access to approximately $169 million in assets.
11 June 2020
Ontario Securities Commission publishes investigative report concluding QuadrigaCX operated as a Ponzi scheme under Cotten's direction.
27 January 2022
Blockchain investigator ZachXBT reveals that Wonderland DAO treasury manager '0xSifu' is Michael Patryn, co-founder of QuadrigaCX. The disclosure triggers a community crisis and a DAO vote to remove Sifu.
31 January 2022
Wonderland DAO community vote results in 87.56% of tokens voting to remove 0xSifu as treasury manager.
18 February 2022
Patryn launches the SIFU token on Uniswap V3.
21 September 2022
UwU Lend launches on Ethereum mainnet as an Aave fork, quickly attracting $57.5 million in TVL.
10 June 2024
UwU Lend exploited for approximately $19.3 million via oracle manipulation of the sUSDe price feed using Curve Finance spot price sources. Attacker address: 0x841ddf093f5188989fa1524e7b893de64b421f47. Protocol paused within minutes. 0xSifu offers 20% white-hat bounty.
13 June 2024
Same attacker returns and drains an additional $3.7 million from UwU Lend using uUSDE collateral from the first attack, while the protocol was mid-reimbursement of first hack victims (~$9.7M repaid). Combined losses reach approximately $23 million.
Decision Log
- hash: qqBjbhiGuLkquPUTYfWqBAWcTMiBRxTs9hYWFmpZm82
This investigation is cryptographically anchored to the Solana blockchain (1 event). 0 of 28 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/30/2026, 7:10:44 PM
last updated: 8/29/2026, 1:34:36 AM
avoid.net — verified advice for a post-truth world