📰 Moonwell Exploit on Base Drains $8.7M via MAMO Market
A security exploit hit Moonwell's MAMO market on the Base blockchain, allowing an attacker to borrow $11.03 million against manipulated collateral. After accounting for what was already in the protocol, the net loss came to approximately $8.7 million.
Moonwell's post-mortem report puts remaining borrower obligations at $9.131 million following the incident. The exploit targeted the MAMO lending market specifically — not the broader Moonwell protocol.
No details on fund recovery or user compensation have been confirmed at this stage.
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2August 29, 2026 1K 2
