$9.3M Loss Hits More Markets as Hackers Exploit E-Mode Weakness

A DeFi lending protocol called More Markets has suffered a high-value breach on Flow EVM, according to Blockaid's report.

The incident resulted in the loss of approximately $9.3 million from the mFlowWFLOW lending reserve.

Blockaid attributes the breach to an overborrowing approach using Ankr Staked FLOW (ankrFLOW) and Aave V3's 'efficiency mode' (E-mode).

The attacker exploited a weakness in the E-mode, which is designed to increase borrowing power for certain asset groups when their values are expected to move together.