Moonwell Loses $8.7 Million on Base as an Attacker Sidesteps Its Supply Cap

Moonwell lost $8.7 million on Base as an attacker sidestepped its supply cap. The protocol's supply cap is checked when a normal deposit mints shares, so the attacker deposited once, then sent 53 million tokens straight to the market and raised what those shares could claim about 3.7-fold.