Moonwell’s cleanup operation from one of DeFi’s more costly oracle accidents is still very much in progress. The protocol’s third round of cbETH remediation payments has completed, with 147.12137 ETH sent to wallets affected by a pricing bug that first surfaced in February 2026.
That brings the confirmed cumulative total across all three distribution rounds to approximately 390.62 ETH, a figure that represents months of treasury work, governance coordination, and pro-rata calculations across more than 200 impacted addresses.
What went wrong, and who got hurt
The incident traces back to governance proposal MIP-X43, which introduced a misconfigured Chainlink oracle for cbETH, Coinbase’s liquid staking token. The misconfiguration caused cbETH collateral to be severely mispriced within the Moonwell lending markets.
The estimated net losses fell somewhere between $1.78M and $2.68M across 181 borrowers, spread over a window of just a few days.
