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The DeFi protocol Moonwell is suspected to have suffered an attack, with losses exceeding $1 million.
On November 4, blockchain security company BlockSec stated, “Our system detected a series of suspicious transactions targeting the DeFi lending protocol Moonwell's smart contracts (deployed on Base and Optimism). Upon analysis, the issue originated from abnormal rsETH / ETH token price data provided by an off-chain oracle — this price was exploited by attackers (possibly MEV Bots), resulting in losses exceeding $1 million. It appears that the price data used by the protocol was incorrectly updated. Currently, there is no way to directly contact the relevant project party.”