More Markets Lending Reserve Drained $9.3 Million on Flow EVM

A DeFi protocol called More Markets has suffered a significant security breach after attackers drained $9.3 million from its lending reserve on Flow EVM, according to blockchain security firm Blockaid.

The incident occurred when roughly 15.5 million Wrapped Flow (WFLOW) tokens were withdrawn from the mFlowWFLOW reserve, highlighting a security weakness in the lending reserve and putting DeFi lending and tokenized staking products at risk.

Blockaid linked the breach to More Markets' use of a liquid staking token and an efficiency-mode borrowing feature, which may have contributed to the incident.