More Markets Lending Reserve Drained for $9.3M: Blockaid
Blockaid said the attacker used an Ankr liquid staking token and E-mode to overborrow from the reserve and move funds after the drain.
- On Monday, decentralized finance protocol More Markets suffered an exploit on Flow EVM, with an attacker draining approximately 15.5 million Wrapped Flow tokens valued at roughly $9.3 million from a lending reserve.
- Web3 security platform Blockaid reported the attacker used Ankr Staked FLOW, a liquid staking token, alongside E-mode to overborrow assets from the reserve, exploiting the protocol's lending architecture.
- This incident targeted an application built on Flow EVM, distinct from the Flow network itself, which suffered a separate security breach in late 2025 involving the Cadence execution layer.
- The exploit pushed total losses from cryptocurrency hacks to $139.7 million for August, following Sunday's reported $75 million exploit targeting DeFi lending protocol Tectonic on the Cronos blockchain.
- More Markets has not publicly confirmed the incident or disclosed potential user losses, while Blockaid continues investigating the transaction cluster used to move the stolen assets.
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More Markets Lending Reserve Drained of $9.3 Million on Flow EVM, Blockaid Says
DeFi protocol More Markets had about $9.3 million of digital assets drained from a lending reserve on Flow EVM, according to blockchain security firm Blockaid, which linked the incident to the use of a liquid staking token and an efficiency-mode borrowing feature. Blockchain data shared by Blockaid on Monday showed about 15.5 million Wrapped Flow (WFLOW) tokens were taken from the mFlowWFLOW reserve.Visit Website
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Cryptocurrency News | Cryptocurrency Prices | Market CapMore Markets suffers $9.3m WFLOW exploit on Flow EVM
More Markets has suffered an exploit on Flow EVM that drained about 15.5 million WFLOW from the lending protocol, with blockchain security firm Blockaid estimating the impact at roughly $9.3 million. Blockaid said in an Aug. 31 X post that…
Attackers drain 15.5M WFLOW from More Markets in suspected $9.3M Flow exploit
The Blockaid security firm has reported an exploit estimated to have drained roughly $9.3 million from More Markets’ WFLOW lending reserve in the early hours of August 31, 2026. The Flow EVM lending protocol built by More Labs did not immediately confirm the loss in its response to the reports, writing that it is “currently...
More Markets drained of $9.3M in WFLOW exploit, Blockaid reports
The exploit highlights vulnerabilities in DeFi protocols, emphasizing the need for enhanced security measures to protect against sophisticated attacks. The post More Markets loses $9.3M in lending reserve exploit, Blockaid reports appeared first on Crypto Briefing.
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