Moonwell MAMO Exploit Drains $8.7M From Base Lending Market
Moonwell said the attacker manipulated MAMO collateral to borrow cbBTC, and security firms estimated losses at about $8.7 million.
- On Thursday, decentralized lending protocol Moonwell halted borrowing across its Base Core Markets after an exploit drained about $8.7 million from the MAMO Core Market.
- Blockchain security firms PeckShield and CertiK reported that attackers manipulated the collateral price of MAMO, a relatively illiquid token, to borrow Coinbase Wrapped ETH from the protocol.
- As a precaution, Moonwell reduced borrow caps for all Base Core Markets to 1 wei and lowered supply caps for MAMO and WELL to 1 wei, preventing new borrowing positions.
- Moonwell's WELL token fell about 13% over 24 hours while MAMO dropped roughly 9%, according to CoinGecko and DEX Screener data; the protocol stated its investigation remains active.
- This breach joins a series of significant DeFi attacks throughout 2026; industry data shows exploit losses across the sector totaled more than $606 million during April alone.
14 Articles
14 Articles
Moonwell Loses $8.7 Million on Base as an Attacker Sidesteps Its Supply Cap
Moonwell lost about $8.7 million on Base on Thursday. As of early Friday the proceeds sat in a single Ethereum address holding about 8.73 million DAI. CertiK and Blockaid attributed the attack to price manipulation of MAMO, a thinly traded token Moonwell accepted as collateral, and PeckShield put the loss at $8.7 million. Onchain records show the attacker never had to defeat the protocol’s supply limit, because the route they used does not check…
Moonwell MAMO exploit drains $8.7M from Base lending market
Moonwell has halted new borrowing across its Core Markets on Base after an apparent MAMO collateral price manipulation exploit drained about $8.7 million from the decentralized lending protocol. Moonwell said in an Aug. 27 post on X that it was…
Moonwell Investigates $8.7 Million Loss on Base After MAMO Price Manipulation - The Cryptocurrency Post
Moonwell is investigating an exploit on Base that security firms and early reporting estimated at about $8.7 million, after an attacker reportedly manipulated the price of the MAMO token and used the inflated value to drain assets from the protocol’s lending markets. We are aware of an issue affecting the MAMO Core Market on Base and are actively investigating. As a precaution, borrow caps for all Core Markets on Base have been set to 1 wei, pr…
Moonwell Locks Base Borrowing After $8.7M MAMO Attack
Attackers extracted roughly $8.7 million from Moonwell after artificially inflating the price oracle of the low-liquidity MAMO token, then using it as collateral to borrow higher-value assets before converting them to DAI. Automated Safeguards Protect User Funds Decentralized lending protocol Moonwell has restricted borrowing across all Core Markets on the Base network as it investigates […]
Moonwell Loses $8.7 Million To MAMO Price Manipulation On Base
Moonwell lost roughly $8.7 million on Thursday after an attacker manipulated the price of MAMO, a small-cap token the lending protocol accepts as collateral on Base, and used the inflated position to borrow real assets. The protocol had no faster remedy than shutting itself down. Moonwell's... Read the full story at The Defiant
Report: Moonwell suffers $8.7 million exploit on Base
Lending protocol Moonwell was hit by a reported $8.7 million exploit on Base, according to early coverage of the incident. The loss figure and the affected network come from a report on the Moonwell exploit, which named Moonwell as the protocol involved and identified Base as the chain where the funds were drained. For related coverage, see BlackRock Cuts Bitcoin ETF Swap Minimum to $1 Million: Report. What the report says about the Moonwell exp…
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