$9.3M Drain: More Markets Hit by Suspected Flow Exploit
The decentralized finance (DeFi) sector is reeling from another security incident. According to Blockaid, attackers have drained approximately $9.3 million from More Markets' WFLOW lending reserve in a suspected Flow exploit.
The attack occurred early on August 31, 2026, and the exact mechanism of the breach remains unclear. However, Blockaid estimates that it may be linked to either Ankr-bonded liquid staking tokens or More Markets' E-Mode setting, which allows borrowers to take on higher leverage against correlated assets.
While the incident is not expected to have a significant impact on DeFi as a whole, given More Markets' relatively small total value locked of $5.6 million, it does highlight the ongoing security challenges facing the sector. Other recent incidents include Moonwell's $9 million price-manipulation attack and losses suffered by Avici and Ajna.