Web3 security platform Blockaid reported that the decentralized finance (DeFi) treasury infrastructure protocol More Markets suffered an exploit in one of its lending reserves on the Flow EVM network, involving digital assets totaling approximately $9.3 million.

According to data shared by Blockaid in a post on the X platform on Monday, about 15.5 million WFLOW was withdrawn from the mFlowWFLOW lending reserve. Blockaid estimated the value of this amount at about $9.3 million.

The company said the attacker used Ankr Staked FLOW (ankrFLOW), a liquid staking token, along with the E-mode feature for borrowing beyond the usual collateral limits.

How was E-mode used in the attack?

E-mode, or efficiency mode, is a feature in Aave V3 that increases borrowing power for assets expected to move in the same direction in price, such as liquid staking tokens and their associated underlying asset. With this kind of setup, improper risk or collateral limits can open the door to excessive borrowing if the mechanism is used in an aggressive way.

This incident shows that lending platforms that rely on price-linked assets need careful review of collateral settings and borrowing limits, especially when the assets used fall under the category of liquid staking–linked tokens.

Broader impact on the hacking market

Blockaid said the exploitation increased the total losses from cryptocurrency hacks during August to $139.7 million, making it the third-largest month so far in 2026 by value stolen. However, this figure remains far below the $254 million stolen in July, according to DefiLlama data.

In a related security context, the Cronos network suspended its blockchain on Sunday after a hack estimated at around $75 million targeted the decentralized lending protocol Tectonic.

As of the time of publication, More Markets had not publicly confirmed the incident, nor disclosed whether users suffered losses. Blockaid did not receive any further response when additional details were requested, while access to More Markets was not possible for comment.

For lending platform users, this episode highlights the importance of understanding the mechanics of leveraged borrowing, risk limits, and the nature of the collateral used within protocols that support liquid staking tokens.

#الأمن_السيبراني #التمويل_اللامركزي $WFLOW $ANKRFLOW