TLDR Tech / Crypto
Potential Moonwell exploit on Base
Security firms estimate an $8.7M loss after an attacker manipulated the price of the illiquid MAMO token used as collateral, then borrowed real cbBTC against it. Borrowing/supply on Base Core Markets has been capped to 1 wei as a precaution. WELL is down ~13%, MAMO down ~9% in 24 hours.
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