Moonwell has been exploited for $8.7M
#Moonwell suffered an exploit that resulted in approximately $8.7M in losses, according to blockchain security firm #PeckShield . Attackers manipulated the price of the illiquid MAMO collateral token, artificially boosting its value to borrow cbBTC from Moonwell. The stolen funds were then transferred to an attacker-linked address.
Moonwell is a decentralized finance lending and borrowing protocol operating across multiple blockchain networks.
👉 x.com/PeckShieldAlert/status/2092929813959049347
#Moonwell suffered an exploit that resulted in approximately $8.7M in losses, according to blockchain security firm #PeckShield . Attackers manipulated the price of the illiquid MAMO collateral token, artificially boosting its value to borrow cbBTC from Moonwell. The stolen funds were then transferred to an attacker-linked address.
Moonwell is a decentralized finance lending and borrowing protocol operating across multiple blockchain networks.
👉 x.com/PeckShieldAlert/status/2092929813959049347
