Moonwell loses up to $9M on Base after attacker inflates MAMO collateral

Crypto Insight Summary: An attacker manipulated the price of MAMO on Moonwell’s Base lending market on Wednesday and used the inflated collateral to borrow real assets that it never repaid. The losses are estimated to be in the range of about $4 million to $9 million. The attack drained cbBTC, USDC, wstETH and ETH out of real depositor... Crypto Insight Analysis: Direction: Bearish MOON / Neutral BTC / Neutral ETH Impact: Minor Impact Horizon: Short-term (1-3 days) Reasoning: Exploit on Moonwell's Base market causes loss of user funds, damaging platform reputation.