BlockBeats reported on Aug. 27 that blockchain security firm Blockaid detected suspicious activity involving Moonwell on the Base network. According to Blockaid’s exploit detection system, the attacker manipulated the price of MAMO collateral and then borrowed cbBTC from the mCBTC market. The impact observed so far is the transfer of 50.6 cbBTC, valued at more than $4 million. The report did not provide additional details beyond the amount moved and the method identified by the monitoring system. The incident was described as activity observed on-chain, and the figures cited were limited to what Blockaid had seen at the time of the alert.
Moonwell on the Base network showed suspicious activity on Aug. 27, according to BlockBeats, citing monitoring by Blockaid.
Blockaid said its exploit detection system found that the attacker manipulated the price of MAMO collateral and borrowed cbBTC from the mCBTC market. The impact observed so far was the transfer of 50.6 cbBTC, worth more than $4 million.
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