Moonwell suffered an $8.7 million exploit on Base after an attacker manipulated MAMO's collateral price and borrowed cbBTC.
Moonwell, a multichain DeFi lending and borrowing protocol, has been hit by an exploit on Base, with attackers apparently draining about $8.7 million by manipulating the price of MAMO collateral, CertiK reported Thursday.
#CertiKInsight 🚨
We have seen an exploit of @MoonwellDeFi lending market on Base.
Attacker manipulated relatively illiquid MAMO’s collateral price, then borrowed real cbBTCeg. https://t.co/yOBrkzXzfn
~$8.7M has now been aggregated athttps://t.co/7nIcZ59jpw
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