Security
Moonwell Loses $8.7 Million as Bitcoin (BTC) Borrowed in Base Exploit
COINOTAG·August 29, 2026·1 min read
Moonwell lost $8.7 million on Base after an attacker bypassed its supply cap, inflating collateral shares 3.7 times before borrowing Bitcoin and staked ETH. The exploit targeted the lending protocol's collateral mechanism, resulting in significant losses. BTC was among the assets borrowed in the attack.
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