Verify a decision

{"actor":"system:backfill","investigation_id":"3cc8bf0c-3f7d-474b-8c0f-6e62b059268d","kind":"publish","page_slug":"uwulend","published_at":"2026-05-30T19:10:47.317Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"UwuLend","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.coindesk.com/business/2022/09/26/founder-of-failed-crypto-exchange-quadrigacx-starts-defi-protocol-uwu-lend","type":"other","url":""},{"credibility":3,"name":"https://cointelegraph.com/news/defi-lending-protocol-created-by-ex-quadrigacx-co-founder-surpassed-50m-in-tvl","type":"other","url":""},{"credibility":3,"name":"https://www.quillaudits.com/blog/hack-analysis/uwu-lend-hack","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.theglobeandmail.com/business/article-quadriga-co-founder-served-time-in-us-for-role-in-identity-theft/","type":"other","url":""},{"credibility":3,"name":"https://cointelegraph.com/news/quadrigacx-co-founder-michael-patryn-is-actually-convicted-criminal-omar-dhanani-report","type":"other","url":""},{"credibility":3,"name":"https://en.wikipedia.org/wiki/Michael_Patryn","type":"other","url":""},{"credibility":3,"name":"https://news.bitcoin.com/quadrigacx-co-founder-michael-patryn-is-actually-convicted-fraudster-omar-dhanani/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.osc.gov.on.ca/quadrigacxreport/","type":"other","url":""},{"credibility":3,"name":"https://www.cbc.ca/news/business/osc-quadriga-gerald-cotten-1.5607990","type":"other","url":""},{"credibility":3,"name":"https://www.coindesk.com/markets/2020/06/11/quadriga-was-a-ponzi-scheme-ontario-securities-regulator-says","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://cryptobriefing.com/wonderland-treasury-manager-outed-quadrigacx-cofounder/","type":"other","url":""},{"credibility":3,"name":"https://cryptoslate.com/scandal-at-wonderland-time-as-treasury-head-uncovered-as-quadrigacx-co-founder/","type":"other","url":""},{"credibility":3,"name":"https://rekt.news/sifu-scandal","type":"other","url":""},{"credibility":3,"name":"https://www.cryptotimes.io/2022/01/31/wonderland-dao-voted-out-treasury-manager-sifu/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://slowmist.medium.com/analysis-of-the-uwu-lend-hack-9502b2c06dbe","type":"other","url":""},{"credibility":3,"name":"https://www.quillaudits.com/blog/hack-analysis/uwu-lend-hack","type":"other","url":""},{"credibility":3,"name":"https://cyvers.ai/blog/uwu-lend-23m-exploit-oracle-vulnerabilities-exposed","type":"other","url":""},{"credibility":3,"name":"https://cryptobriefing.com/uwu-lend-exploit/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.dlnews.com/articles/defi/0xsifu-protocol-uwu-lend-hacked-again-amid-payback-plan/","type":"other","url":""},{"credibility":3,"name":"https://unchainedcrypto.com/uwu-lend-hacker-steals-another-3-7-million-from-protocol/","type":"other","url":""},{"credibility":3,"name":"https://cryptobriefing.com/uwu-lend-second-hack-update/","type":"other","url":""},{"credibility":3,"name":"https://cryptonews.com/news/breaking-uwu-lend-suffers-another-hack-losing-3-7m/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://unchainedcrypto.com/0xsifu-offers-20-bounty-to-hackers-after-19-million-uwu-lend-exploit/","type":"other","url":""},{"credibility":3,"name":"https://www.dlnews.com/articles/defi/uwu-founder-offers-bounty-to-settle-flash-loan-exploit/","type":"other","url":""},{"credibility":3,"name":"https://cryptonews.com/news/uwu-lend-reacts-to-23-million-hack-pauses-protocol-and-negotiates-with-hacker/","type":"other","url":""},{"credibility":3,"name":"https://therecord.media/uwu-lend-reimbursing-crypto-theft-customers","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.quillaudits.com/blog/hack-analysis/uwu-lend-hack","type":"other","url":""},{"credibility":3,"name":"https://slowmist.medium.com/analysis-of-the-uwu-lend-hack-9502b2c06dbe","type":"other","url":""},{"credibility":3,"name":"https://cryptobriefing.com/uwu-lend-second-hack-update/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.coindesk.com/tech/2022/01/27/how-did-a-former-quadriga-exec-end-up-running-a-defi-protocol-wonderland-founder-explains","type":"other","url":""},{"credibility":3,"name":"https://rekt.news/sifu-scandal","type":"other","url":""},{"credibility":3,"name":"https://protos.com/patryn-wonderland-sifu-quadriga-founder-crypto-treasury/","type":"other","url":""},{"credibility":3,"name":"https://info.arkm.com/research/visualize-sifu-defi","type":"other","url":""}]}],"sources_used":[],"summary":"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.","timeline":[{"date":"2005-01-01","event":"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.","source":""},{"date":"2007-01-01","event":"Dhanani pleads guilty to separate charges of burglary, grand larceny, and computer fraud. Subsequently deported to Canada after serving his sentence.","source":""},{"date":"2013-01-01","event":"Michael Patryn co-founds QuadrigaCX with Gerald Cotten. The exchange would grow to become Canada's largest crypto exchange.","source":""},{"date":"2016-01-01","event":"Patryn departs QuadrigaCX.","source":""},{"date":"2019-01-01","event":"QuadrigaCX collapses following the reported death of CEO Gerald Cotten; over 76,000 users lose access to approximately $169 million in assets.","source":""},{"date":"2020-06-11","event":"Ontario Securities Commission publishes investigative report concluding QuadrigaCX operated as a Ponzi scheme under Cotten's direction.","source":""},{"date":"2022-01-27","event":"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.","source":""},{"date":"2022-01-31","event":"Wonderland DAO community vote results in 87.56% of tokens voting to remove 0xSifu as treasury manager.","source":""},{"date":"2022-02-18","event":"Patryn launches the SIFU token on Uniswap V3.","source":""},{"date":"2022-09-21","event":"UwU Lend launches on Ethereum mainnet as an Aave fork, quickly attracting $57.5 million in TVL.","source":""},{"date":"2024-06-10","event":"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.","source":""},{"date":"2024-06-13","event":"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.","source":""}]},"v":1}