BREAKING NEWS
Moonwell Freezes Base Borrowing After MAMO Price-Manipulation Exploit
Moonwell says it is investigating an issue in the MAMO Core Market on Base after an apparent exploit. CertiK reported that the attacker manipulated MAMO’s relatively illiquid collateral price, then borrowed real cbBTC and other assets; PeckShield estimated about $8.7 million was consolidated in DAI. Moonwell set borrow caps across Base Core Markets to 1 wei and cut MAMO and WELL supply caps to 1 wei as a precaution. A Base transaction tied to the reported activity is timestamped 09:20:11 UTC on August 27, 2026, but final losses, bad debt, affected positions, recovery, and root cause remain unconfirmed. Users should avoid new exposure and rely only on Moonwell’s verified updates; this is not a trading signal.
Moonwell Freezes Base Borrowing After MAMO Price-Manipulation Exploit
Moonwell says it is investigating an issue in the MAMO Core Market on Base after an apparent exploit. CertiK reported that the attacker manipulated MAMO’s relatively illiquid collateral price, then borrowed real cbBTC and other assets; PeckShield estimated about $8.7 million was consolidated in DAI. Moonwell set borrow caps across Base Core Markets to 1 wei and cut MAMO and WELL supply caps to 1 wei as a precaution. A Base transaction tied to the reported activity is timestamped 09:20:11 UTC on August 27, 2026, but final losses, bad debt, affected positions, recovery, and root cause remain unconfirmed. Users should avoid new exposure and rely only on Moonwell’s verified updates; this is not a trading signal.