More Markets Suffers $9.3M Lending Reserve Drain

A recent exploit on More Markets (More Labs) has drained approximately $9.3 million from its lending reserve on Flow EVM.

The attack used ankrFLOW and E-mode to overborrow about 15.5 million WFLOW tokens, leaving users uncertain about their losses and recovery prospects.

This incident adds to the growing list of crypto hacks in August, with total losses reaching $139.7 million, making it the third-largest month by value stolen in 2026 so far.

The security team faces pressure to scrutinize correlated-asset borrowing, reserve design, and risk controls to prevent similar weaknesses in decentralized finance markets worldwide.