Moonwell on Base Chain suffers attack, over $4 million in cbBTC lost

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On-chain data shows that Moonwell on the Base chain was attacked on August 27, 2026, resulting in the loss of over 50.6 cbBTC (approximately $4 million). The attackers manipulated the MAMO collateral price to borrow cbBTC from the mCBTC market. On-chain analysis indicates that the stolen funds have since been moved.

ChainThink reports that on August 27, according to Blockaid monitoring, Moonwell on the Base chain was attacked, resulting in the loss of over $4 million in cbBTC.

Attackers manipulated the MAMO collateral price to borrow cbBTC from the mCBTC market. To date, 50.6 cbBTC (valued at approximately $4 million) have been transferred.

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