Moonwell on Base exploited for $9M via manipulated MAMO collateral
Moonwell on Base is under an ongoing exploit with approximately $9 million stolen after an attacker manipulated MAMO as collateral to borrow unbacked cbBTC, USDC, wstETH and ETH. MAMO subsequently fell 72.29% on Coinbase while Moonwell's native token rose 14.44%.
Detected & updated continuously · Source: Nebula
Sources
@coinbureau
⚠️ONGOING EXPLOIT: Moonwell on Base looks to be under attack, with $9MILLION stolen already. An attacker has manipulated $MAMO as collateral to borrow unbacked $cbBTC, $USDC, $wstETH and $ETH. Meanwhile, Moonwell’s native token is PUMPING, gaining +25% in just the past hour https://t.co/Jen03JeklR
@cexscan
Last 15m - #Coinbase Spot (USD Trades) 📈 Top 3 Gainers: $WELL (Moonwell) : ↑14.44% $SWELL (Swell Network) : ↑5.75% $PERP (Perpetual Protocol) : ↑1.42% 📉 Top 3 Losers: $MAMO (Mamo) : ↓-72.29% $EDGE (Edge Network) : ↓-7.23% $BLZ (Bluzelle) : ↓-4.72% 📶 Top 3 by Volume: