Blockaid said its exploit detection system has identified suspicious activity involving Moonwell on Base. According to the monitoring alert, 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, which Blockaid said is worth more than $4 million. The alert did not disclose additional details beyond the monitored activity and the amount moved. ChainCatcher reported the notice as a market update.
ChainCatcher reported that Blockaid’s exploit detection system identified suspicious activity involving Moonwell on Base.
According to Blockaid, the attacker manipulated the price of MAMO collateral and borrowed cbBTC from the mCBTC market. The impact observed so far is that 50.6 cbBTC, worth more than $4 million, has been moved.
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