Moonwell loses up to $9M on Base after attacker inflates MAMO collateral

An attacker manipulated the price of MAMO on Moonwell’s Base lending market on Wednesday and used the inflated collateral to borrow real assets that it never repaid. The losses are estimated to be in the range of about $4 million to $9 million. The attack drained cbBTC, USDC, wstETH and ETH out of real depositor...