UwU Lend Recovers $9.71 Million in Bad Debt
CryptoNewsTerminal Staff13 Jun, 2024
UwU Lend Recovers $9.71 Million in Bad Debt
Following a hack in May, DeFi protocol UwU Lend has successfully recovered and repaid $9.71 million worth of bad debt. The latest repayment of $1.73 million on X was made from the wETH market. To date, the protocol has repaid a total of: - 3,522,427 DAI - 233,819 crvUSD - 4,225,000 USDT - 481.36 wETH This is a significant milestone for UwU Lend, demonstrating the protocol's resilience and commitment to protecting its users. The recovery of these funds will contribute to the stability and growth of the DeFi ecosystem.