$9.3 Million Drained from More Markets Lending Reserve in DeFi Exploit
- More Markets had approximately $9.3 million drained from its lending reserve on Flow EVM.
- The attacker exploited the mFlowWFLOW lending reserve, taking about 15.5 million Wrapped Flow (WFLOW) tokens.
- The exploit utilized Ankr Staked FLOW (ankrFLOW) and Aave’s E-mode feature to overborrow assets.
- August’s total losses from cryptocurrency hacks reached $139.7 million, marking it the third-largest month of thefts in the year.
- This incident follows a $75 million exploit on the Cronos blockchain targeting Tectonic.
The recent attack highlights vulnerabilities within DeFi protocols, with significant financial implications for platforms like More Markets and their users.
The loss of $9.3 million adds to a troubling trend, as August’s hacking totals reflect a notable decline from July’s $254 million stolen across various exploits.
