$9.3M Drained from More Markets Lending Reserve via Flow EVM Exploit

A DeFi vault infrastructure protocol called More Markets suffered a significant loss after its lending reserve was drained of approximately $9.3 million in digital assets on Flow EVM, according to blockchain security platform Blockaid.

The attacker exploited the mFlowWFLOW lending reserve by using Ankr Staked FLOW (ankrFLOW) and E-mode, an Aave V3 feature that increases borrowing power for assets with correlated prices.

This incident marks a significant decrease in losses from cryptocurrency hacks compared to July, when $254 million was stolen, according to DefiLlama data. However, it pushes the total losses for August to $139.7 million, making it the third-largest month by value stolen so far this year.