🚨SlowMist Alert🚨
💸
@MoonwellDeFi Loss: ~$8.7M USD
🔍 Root Cause: The protocol relied on a MAMO price from a thin market. The attacker manipulated this price, making the collateral appear far more valuable than it really was. This allowed the attacker to borrow funds from the mUSDC and mcbBTC markets and profit from the inflated collateral value.
📌 Attacker: 0x719eae70d4a83f35bf82a2740699f5db84be919d
📌 Vulnerable Contract: 0xf877acafa28c19b96727966690b2f44d35ad5976
📌 Collateral Market: 0x2f90bb22eb3979f5ffad31ea6c3f0792ca66da32
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