Moonwell Hit by $8.7M Exploit on Base
Moonwell has reportedly suffered an exploit on Base, with losses estimated at around $8.7M, according to PeckShield.
The incident appears linked to manipulation of MAMO’s collateral pricing, allowing the attacker to borrow assets against inflated collateral value.
This is another reminder that DeFi risk isn’t limited to smart-contract code. Oracles, pricing mechanisms and collateral design can also become critical attack points.
In DeFi, strong returns mean nothing if the underlying risk isn’t understood.
Stay cautious. DYOR.
#BankOfKoreaHikesRatesTo3% $BTC
Moonwell has reportedly suffered an exploit on Base, with losses estimated at around $8.7M, according to PeckShield.
The incident appears linked to manipulation of MAMO’s collateral pricing, allowing the attacker to borrow assets against inflated collateral value.
This is another reminder that DeFi risk isn’t limited to smart-contract code. Oracles, pricing mechanisms and collateral design can also become critical attack points.
In DeFi, strong returns mean nothing if the underlying risk isn’t understood.
Stay cautious. DYOR.
#BankOfKoreaHikesRatesTo3% $BTC
