🚨 Moonwell just got drained for $8.7M.
Theo PeckShieldAlert, the Moonwell lending protocol on Base was just attacked, causing damage of approximately $8.7M.
Token $WELL is also under pressure, down more than 7% at the time the news was reported.
This is another painful reminder for DeFi:
High TVL doesn’t mean the smart contract is safe.
$8.7M just disappeared in a few transactions, and users were “airdrop”-ed a free security lesson. 💀
DeFi: where the yield is real and sometimes the money is too.
Do you think this is a smart contract vulnerability, or could it be related to oracles / price manipulation?
#defi $Moonwell #WELL #Base #Crypto #hacking
Theo PeckShieldAlert, the Moonwell lending protocol on Base was just attacked, causing damage of approximately $8.7M.
Token $WELL is also under pressure, down more than 7% at the time the news was reported.
This is another painful reminder for DeFi:
High TVL doesn’t mean the smart contract is safe.
$8.7M just disappeared in a few transactions, and users were “airdrop”-ed a free security lesson. 💀
DeFi: where the yield is real and sometimes the money is too.
Do you think this is a smart contract vulnerability, or could it be related to oracles / price manipulation?
#defi $Moonwell #WELL #Base #Crypto #hacking