BlockBeats report: On August 27, according to Blockaid’s monitoring, its exploit detection system identified suspicious activity on the Base chain involving Moonwell. The attacker manipulated the MAMO collateral price to borrow cbBTC from the mCBTC market, with currently observed impacts including the transfer of 50.6 cbBTC (valued at over $4 million).
Base Chain's Moonwell suffers attack; over $4M in cbBTC stolen
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Summary
On-chain data reveals that on August 27, 2026, Moonwell on the Base chain was exploited, with attackers manipulating MAMO collateral prices to borrow cbBTC. A total of 50.6 cbBTC, worth over $4 million, was withdrawn. Blockaid’s on-chain analysis detected the suspicious activity within the mCBTC market. The incident underscores ongoing risks in DeFi protocols.
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