Moonwell on Base hit by exploit with $9MILLION stolen; attacker borrows unbacked cbBTC, USDC, wstETH and ETH
Decentralized lending protocol Moonwell on Base has been hit by an exploit, with about $9MILLION stolen. The attacker manipulated MAMO tokens as collateral to borrow unbacked cbBTC, USDC, wstETH and ETH. Despite the incident, Moonwell’s native token WELL rose 25% over the past hour.