Question 1

How did the Moonwell attacker steal the funds?

Accepted Answer

The attacker manipulated the price of the thinly traded MAMO token, which ExVul said was pushed up roughly eightfold from about $0.0105 to $0.088, then used the inflated MAMO as collateral to borrow real cbBTC, USDC, wstETH and ETH from Moonwell's Base markets.

Question 2

How much did Moonwell lose in the exploit?

Accepted Answer

Estimates varied as the attack was ongoing: Blockaid observed more than $4 million, ExVul reported about $5.7 million, CertiK said close to $8.7 million, and Coin Bureau flagged $9 million, while analyst CJ Blockchain estimated the attacker's net profit at around $6 million.

Question 3

Has Moonwell been exploited before?

Accepted Answer

Yes. DefiLlama records an oracle spot-price manipulation on November 4, 2025, and a $1.78 million bad-debt event on February 15, 2026 tied to a misconfigured cbETH oracle.

MAMO

Attackers hit Moonwell for almost $9M in price manipulation exploit

One sharp brief.
Every day.

MAMO

Attackers hit Moonwell for almost $9M in price manipulation exploit

One sharp brief.Every day.

One sharp brief.
Every day.