DeFi lending protocol Moonwell recently suffered a price manipulation attack. Due to insufficient liquidity depth in the MAMO price’s liquidity market, the protocol’s total losses reportedly reached $8.7 million.
The attack took place on the Base chain. The attacker exploited a low-liquidity MAMO price oracle pricing vulnerability to manipulate the price, trigger liquidations, and ultimately siphon off a large amount of funds from the protocol. The project team has already confirmed the incident and is currently discussing follow-up remediation plans.
Attacks targeting low-liquidity oracle pricing are all too common in the DeFi space. This incident once again serves as a warning to all lending protocols: when choosing an oracle pricing mechanism, priority must be given to market depth and liquidity to avoid giving attackers an opening.
$ETH
#DeFi #加密货币 # security incident
The attack took place on the Base chain. The attacker exploited a low-liquidity MAMO price oracle pricing vulnerability to manipulate the price, trigger liquidations, and ultimately siphon off a large amount of funds from the protocol. The project team has already confirmed the incident and is currently discussing follow-up remediation plans.
Attacks targeting low-liquidity oracle pricing are all too common in the DeFi space. This incident once again serves as a warning to all lending protocols: when choosing an oracle pricing mechanism, priority must be given to market depth and liquidity to avoid giving attackers an opening.
$ETH
#DeFi #加密货币 # security incident