POPA ReconMoonwell on Base Exploited for $8.7M
Moonwell on Base Exploited for $8.7M Moonwell, the Base lending protocol, was drained of roughly $8.7M in an exploit flagged by security firm PeckShield. Moonwell is a Base-native money market. The protocol has been hit before by oracle price-feed manipulation, where a mispriced collateral feed lets an attacker borrow far beyond an asset's real value: a February 2026 incident drained about $1.78M through a bad cbETH price, and an earlier wrsETH mispricing left roughly $3.7M in bad debt. The root cause of this latest $8.7M drain had not been confirmed as the incident was still unfolding. The…
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