DeFi protocol Moonwell restricts Base borrowing following an $8.7M MAMO price manipulation exploit. Ecosystem partner Zyfai exits user funds.

Moonwell suffered an $8.7 million exploit on Base after an attacker manipulated MAMO's collateral price and borrowed cbBTC.

Moonwell reduced MAMO Core Market borrow caps to 1 wei on Base after a price manipulation exploit drained an estimated $10M in assets including