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Aug 27, 2026

Moonwell loses $8.7 million in MAMO price manipulation exploit on Base

DeFi lending protocol Moonwell suffered an $8.7 million exploit after an attacker manipulated the price of MAMO token to borrow real assets against inflated collateral, prompting the protocol to set borrow caps to 1 wei across Base markets.

Aug 27, 2026·7 sources

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Top claims

▪In November 2025, a spot-price oracle manipulation involving the wrsETH/ETH oracle following a Balancer hack resulted in $3.7 million of bad debt for Moonwell
▪Following the exploit, Moonwell's native governance token, WELL, fell by approximately 13% over a 24-hour period, trading around $0.0032
▪Blockchain security firm Blockaid first flagged the suspicious activity against Moonwell's mCBTC market, observing an initial drain of 50.6 cbBTC worth over $4 million

Topics

Crypto hacks Layer 2s DeFi security DeFi lending DeFi

Related entities

Price manipulation

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