Moonwell has recovered part of the funds tied to its earlier exploit and has paused protocol interactions, according to an update cited by Techub News. The project also cut borrowing caps for all core markets on Base to 1 wei as it moves to contain the fallout.
The attack involved manipulation of the MAMO collateral price. Earlier reports said the attacker borrowed about 50.6 cbBTC, worth more than $4 million, from the mCBTC market and then converted the proceeds into DAI. Blockchain security firm PeckShield estimated total losses at about $8.7 million.
Moonwell has also restricted supply caps for MAMO and WELL. The latest update points to an ongoing response effort after the exploit, with partial fund recovery now confirmed. The report cited by Techub references crypto.news as the source for the latest developments.
Moonwell has recovered part of the funds linked to its earlier exploit and has paused protocol interactions, according to Techub News. The project also lowered borrowing caps for all core markets on Base to 1 wei.
Earlier reports said the attacker manipulated the price of MAMO collateral and borrowed about 50.6 cbBTC, worth more than $4 million, from the mCBTC market before converting the funds into DAI. PeckShield estimated the total loss at about $8.7 million.
Moonwell has now restricted supply caps for MAMO and WELL. The latest update cited by Techub references crypto.news.
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