Moonwell MAMO Exploit Drains $8.7M From Base Lending Market

Moonwell MAMO exploit drains $8.7M from Base lending market

Moonwell has halted new borrowing across its Core Markets on Base after an apparent MAMO collateral price manipulation exploit drained about $8.7 million from the decentralized lending protocol. Moonwell said in an Aug. 27 post on X that it was…

Report: Moonwell suffers $8.7 million exploit on Base

Lending protocol Moonwell was hit by a reported $8.7 million exploit on Base, according to early coverage of the incident. The loss figure and the affected network come from a report on the Moonwell exploit, which named Moonwell as the protocol involved and identified Base as the chain where the funds were drained. For related coverage, see BlackRock Cuts Bitcoin ETF Swap Minimum to $1 Million: Report. What the report says about the Moonwell exp…

Moonwell’s latest $9M attack marks four incidents in a year

Borrow liquidity on Moonwell has been drained following a well-capitalized attacker’s price manipulation of collateral token MAMO. The post Moonwell’s latest $9M attack marks four incidents in a year appeared first on Protos.

Moonwell Halts Base Borrowing After $8.7M MAMO Exploit

What Happened To Moonwell’s MAMO Market? Decentralized lending protocol Moonwell is investigating an incident affecting its MAMO Core Market on Base after blockchain security firms estimated that an attacker extracted approximately $8.7 million by manipulating the price of the relatively illiquid MAMO token. Moonwell responded by effectively shutting down new borrowing across its Core Markets on Base while it investigates the incident. The proto…

Moonwell Hit by $9M Oracle Manipulation Attack on Base

Moonwell was hit by an estimated $9 million oracle manipulation attack on Base after exploiters inflated the price of thinly traded MAMO collateral and used the artificial valuation to borrow higher-value assets from the lending protocol. The attack pushed MAMO from around $0.01 to nearly $0.47 through low-liquidity markets before the elevated price reached Moonwell’s collateral calculations. Early transactions extracted cbBTC, USDC, wstETH and …