Blockaid Flags $9.3M Reserve Drain via Ankr Tokens on More Markets

A security firm called Blockaid has reported that lending protocol More Markets suffered a reserve drainage of approximately $9.3 million in digital assets.

The attack, which occurred on Flow EVM network, involved the extraction of around 15.5 million Wrapped Flow (WFLOW) tokens from the protocol's mFlowWFLOW lending reserve.

Blockaid attributes the incident to the use of ankrFLOW and Aave V3 E-mode overborrowing conditions.

The security firm highlighted that the attacker exploited the relationship between a liquid staking token (ankrFLOW) and its underlying asset, FLOW, under E-mode's favorable risk parameters.