Breaches and incidentsBriefChecked against a primary source
Moonwell (Base): MAMO collateral price manipulation
27 Aug 2026: losses estimated at about USD 8.7M (CertiK, PeckShield) to USD 9.1M (BlockSec).
- Disclosed
What happened
- 27 Aug 2026: losses estimated at about USD 8.7M (CertiK, PeckShield) to USD 9.1M (BlockSec). Fourth Moonwell loss in under a year.
- Root cause per BlockSec: an oracle that low liquidity could move (Chainlink MAMO/USD went from about USD 0.0106 to 0.4313) plus a 50% collateral factor. The attacker also sent MAMO directly to the mMAMO contract to bypass the supply cap, then borrowed about USD 11.03M and bridged about USD 8.73M USDC to Ethereum.
- Attribution: none.
- Response: Moonwell froze new borrowing and cut Base borrow caps to 1 wei, and published a post-mortem.
Sources
- https://blocksec.com/blog/defi-security-incidents-cosmos-evm-moonwell
- https://theblock.co/news/defi/2026-08-27-moonwell-investigates-base-lending-market-issue-412913
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