Blockaid Traces $9.3 Million Exploit at Flow Lender More Markets

More Markets misplaced 15.5 million Wrapped Flow (WFLOW) to an exploit on Flow EVM on Monday. Security agency Blockaid put the preliminary impression at $9.3 million.

The lending protocol has not confirmed any loss. Its group stated it’s wanting into the declare and can publish findings as soon as the assessment is full.

What Blockaid Traced Onchain

More Markets is a non-custodial lending market on Flow EVM constructed by More Labs. Blockaid said an attacker mixed an Ankr bonded liquid staking token with the protocol’s Efficient Mode setting to empty the mFlowWFLOW reserve.

The agency printed the exploit transaction, the contract deployment, and 11 follow-up transfers. It additionally names the attacker handle, a helper pockets, and the affected pool.

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Markets reacted rapidly. Flow (FLOW) fell about 8% over 24 hours to commerce close to $0.026. Value locked in More Markets dropped to roughly $3.6 million. Still, the drop comes amid a broader market downturn, which has pulled the whole market cap down roughly 3%

The assault lands at the tip of a punishing stretch for crypto protocols. Cronos halted its blockchain on August 30 after figuring out an exploit at Tectonic, its largest lending market. Last week, Moonwell misplaced an estimated $8.7 million.

DefiLlama knowledge data 37 hacks in August, totaling roughly $140 million. Lending protocols account for the majority of that determine.

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