MAMO Core Market was pulled for $8.7 million on Base, with the attacker directly manipulating MAMO collateral pricing to borrow cbBTC. Moonwell currently only limits new borrowings and has not mentioned compensation.
This shows that the price oracle of lending protocols is still a weak point. The project team reacted quickly, but pre-incident risk controls were clearly not in place. In the short term, MAMO is likely to face continued pressure. For similar small-cap lending protocols, it’s advisable to wait and watch first.
This shows that the price oracle of lending protocols is still a weak point. The project team reacted quickly, but pre-incident risk controls were clearly not in place. In the short term, MAMO is likely to face continued pressure. For similar small-cap lending protocols, it’s advisable to wait and watch first.
