Moonwell loses $8.7 million to fourth exploit in less than a year

An attacker stole around $8.7 million from the Moonwell defi lending protocol after manipulating the price of an illiquid token called MAMO. After pumping the MAMO token price, they "borrowed" various assets and abandoned the overinflated collateral.This theft is the fourth Moonwell exploit in less than a year, following a $3.7 million oracle manipulation attack in November 2025, another oracle attack in February 2026 amounting to $1.78 million, and a $1 million governance attack in March. "Moonwell investigates lending market issue on Base as security firms flag multimillion-dollar exploit" , The Block