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Moonwell has been exploited for $8.7M
#Moonwell suffered an exploit that resulted in approximately $8.7M in losses, according to blockchain security firm #PeckShield . Attackers manipulated the price of the illiquid MAMO collateral token, artificially boosting its value to borrow cbBTC from Moonwell. The stolen funds were then transferred to an attacker-linked address.
Moonwell is a decentralized finance lending and borrowing protocol operating across multiple blockchain networks.
👉 x.com/PeckShieldAlert/status/2092929813959049347
#Moonwell suffered an exploit that resulted in approximately $8.7M in losses, according to blockchain security firm #PeckShield . Attackers manipulated the price of the illiquid MAMO collateral token, artificially boosting its value to borrow cbBTC from Moonwell. The stolen funds were then transferred to an attacker-linked address.
Moonwell is a decentralized finance lending and borrowing protocol operating across multiple blockchain networks.
👉 x.com/PeckShieldAlert/status/2092929813959049347
🚨Breaking news: DeFi protocol Moonwell has suffered a security attack, with losses reaching approximately $9 million. This attack directly impacts the cbBTC lending business.
Event details are still being disclosed further, but this incident once again serves as a warning to the crypto industry: even Bitcoin tokenized assets packaged through mainstream institutions may still face risks due to vulnerabilities in the underlying protocol.
As a packaged asset of tokenized, pegged Bitcoin launched by Coinbase, cbBTC will also prompt more discussion in the market about the security of the institutional-issued LSDFI category. $BTC
#Moonwell #加密安全 #DeFi
Event details are still being disclosed further, but this incident once again serves as a warning to the crypto industry: even Bitcoin tokenized assets packaged through mainstream institutions may still face risks due to vulnerabilities in the underlying protocol.
As a packaged asset of tokenized, pegged Bitcoin launched by Coinbase, cbBTC will also prompt more discussion in the market about the security of the institutional-issued LSDFI category. $BTC
#Moonwell #加密安全 #DeFi
Moonwell Officially Confirms That the Protocol Suffered a Loss of Approximately $8.7 Million Due to a Price Manipulation Attack, with the Root Cause Being the Use of MAMO Price Feeds from Illiquid Markets.
The attack occurred on Moonwell Apollo markets built on Base. The attacker took advantage of the thin liquidity in the MAMO/ETH pair, manipulating the price to inflate the valuation of MAMO, and then borrowed assets far exceeding what the collateral would reasonably justify. Ultimately, this led to a shortfall in the protocol’s bad-debt reserves.
This incident once again serves as a warning to the DeFi industry: when choosing price feeds, you cannot rely on a single source only. For price risks associated with low-liquidity assets, you must put preventive controls in place in advance, or attackers will be left with easy opportunities.
$ETH
#DeFi #Moonwell #Base
The attack occurred on Moonwell Apollo markets built on Base. The attacker took advantage of the thin liquidity in the MAMO/ETH pair, manipulating the price to inflate the valuation of MAMO, and then borrowed assets far exceeding what the collateral would reasonably justify. Ultimately, this led to a shortfall in the protocol’s bad-debt reserves.
This incident once again serves as a warning to the DeFi industry: when choosing price feeds, you cannot rely on a single source only. For price risks associated with low-liquidity assets, you must put preventive controls in place in advance, or attackers will be left with easy opportunities.
$ETH
#DeFi #Moonwell #Base
Moonwell has just suffered a $8.7 million loss due to a price manipulation attack, and the root cause lies in the MAMO price-oracle feeding mechanism in a market with thin liquidity.
The logic of this attack is actually not complicated: the attacker exploits the fact that the project uses a price-oracle feed for low-liquidity tokens. By pumping or dumping the price with a huge amount, the attacker causes the lending protocol to misjudge the collateral value, ultimately enabling the attacker to extract funds far exceeding the value of the collateral.
DeFi projects on the Base chain have recently been plagued by security issues. Many projects, in order to support emerging local tokens, directly choose illiquid tokens as collateral, while overlooking the risks of price-oracle feeding. Thin liquidity = easier to manipulate—this is an unchanging rule.
DeFi security is always the first red line. Even audited projects may still leave fatal vulnerabilities in their economic model design. Users should stay extra vigilant when participating in any new protocol.
#DeFi #Moonwell #加密安全
The logic of this attack is actually not complicated: the attacker exploits the fact that the project uses a price-oracle feed for low-liquidity tokens. By pumping or dumping the price with a huge amount, the attacker causes the lending protocol to misjudge the collateral value, ultimately enabling the attacker to extract funds far exceeding the value of the collateral.
DeFi projects on the Base chain have recently been plagued by security issues. Many projects, in order to support emerging local tokens, directly choose illiquid tokens as collateral, while overlooking the risks of price-oracle feeding. Thin liquidity = easier to manipulate—this is an unchanging rule.
DeFi security is always the first red line. Even audited projects may still leave fatal vulnerabilities in their economic model design. Users should stay extra vigilant when participating in any new protocol.
#DeFi #Moonwell #加密安全
Magical DeFi: Moonwell Suffers an Attack, Loses $9 Million, Yet Its Native Token Jumps 25%🔥
According to CoinCircle Network, Base-chain lending protocol Moonwell experienced a sudden security incident. The attacker used MAMO as collateral and unlawfully borrowed a large amount of CBBTC, USDC, WSTETH, and ETH. The protocol’s total losses are estimated at approximately $9 million.
What’s strange is that while the attack has not been fully resolved, Moonwell’s native token rallied against the trend by 25% within one hour.
This abnormal market move also exposes the DeFi market’s game-theory logic: funds interpret negative news from an attack as the project’s risk being “cleared,” with expectations of subsequent governance and repairs. In the short term, speculative sentiment overwhelms the security crisis.
Moonwell has previously been targeted multiple times due to vulnerabilities in its oracle configuration. A series of security incidents should have dealt a severe blow to market confidence. However, the token’s rise against the trend this time is more likely a result of short-term speculative capital arbitrage.
For regular users participating in DeFi lending, always be on guard against protocols where security vulnerabilities appear frequently. Ensuring the safety of principal should always come first.
Do you think this surge is being driven by capital speculation, or is there truly a repair expectation from the project? Let’s discuss it in the comments👇
#Moonwell #DeFi安全 #加密市场 $BTC $ETH $BNB #DEFİ
⚠️ The above is only on-chain event observation and does not constitute investment advice. DeFi contract risks are extremely high.
According to CoinCircle Network, Base-chain lending protocol Moonwell experienced a sudden security incident. The attacker used MAMO as collateral and unlawfully borrowed a large amount of CBBTC, USDC, WSTETH, and ETH. The protocol’s total losses are estimated at approximately $9 million.
What’s strange is that while the attack has not been fully resolved, Moonwell’s native token rallied against the trend by 25% within one hour.
This abnormal market move also exposes the DeFi market’s game-theory logic: funds interpret negative news from an attack as the project’s risk being “cleared,” with expectations of subsequent governance and repairs. In the short term, speculative sentiment overwhelms the security crisis.
Moonwell has previously been targeted multiple times due to vulnerabilities in its oracle configuration. A series of security incidents should have dealt a severe blow to market confidence. However, the token’s rise against the trend this time is more likely a result of short-term speculative capital arbitrage.
For regular users participating in DeFi lending, always be on guard against protocols where security vulnerabilities appear frequently. Ensuring the safety of principal should always come first.
Do you think this surge is being driven by capital speculation, or is there truly a repair expectation from the project? Let’s discuss it in the comments👇
#Moonwell #DeFi安全 #加密市场 $BTC $ETH $BNB #DEFİ
⚠️ The above is only on-chain event observation and does not constitute investment advice. DeFi contract risks are extremely high.
Moonwell investigates lending flaw on Base, damage about $8.7 million
• Moonwell is investigating an incident in the lending market within the Base ecosystem.
• Security firms CertiK and PeckShield estimate total losses of about $8.7 million.
• The attacker manipulated the price of the MAMO token’s collateral to siphon funds.
• The incident is currently being verified; there is no final official announcement yet from Moonwell in the RSS description.
#BinanceSquare #CryptoNews #Base #DeFi #Moonwell
$btc $eth
vlikevn Titanbot
Source: The Block
• Moonwell is investigating an incident in the lending market within the Base ecosystem.
• Security firms CertiK and PeckShield estimate total losses of about $8.7 million.
• The attacker manipulated the price of the MAMO token’s collateral to siphon funds.
• The incident is currently being verified; there is no final official announcement yet from Moonwell in the RSS description.
#BinanceSquare #CryptoNews #Base #DeFi #Moonwell
$btc $eth
vlikevn Titanbot
Source: The Block
#BankChainAlliance the banking alliance of the USA that will face the crypto sector 🤔🤔🤔🤔
#Moonwell loses 8.7 M without having hacked a single line of code 😳😳😳😳😳😳😳
$SOL
$XRP
$HYPE
#Moonwell loses 8.7 M without having hacked a single line of code 😳😳😳😳😳😳😳
$SOL
$XRP
$HYPE
CriptoVerdad:
hola 👋🏾
📊 DATA:
Moonwell’s latest reserve plan raises an uncomfortable question.
The cbETH market is still carrying a $1.77M net shortfall, yet the proposed allocation to repay it is exactly $0.
What makes this more interesting? Around $7,360 in reserves remains unused, while the report offers no clear explanation for why cbETH receives nothing.
A reserve plan is not just about what gets funded—it also reveals what risks are being left waiting.
The numbers are public. The missing explanation is the real issue.
#Moonwell #DeFi #CryptoNews #Ethereum #Web3
Moonwell’s latest reserve plan raises an uncomfortable question.
The cbETH market is still carrying a $1.77M net shortfall, yet the proposed allocation to repay it is exactly $0.
What makes this more interesting? Around $7,360 in reserves remains unused, while the report offers no clear explanation for why cbETH receives nothing.
A reserve plan is not just about what gets funded—it also reveals what risks are being left waiting.
The numbers are public. The missing explanation is the real issue.
#Moonwell #DeFi #CryptoNews #Ethereum #Web3
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