More Markets Suffers $9.3M Wrapped Flow Heist on Flow EVM

A DeFi vault infrastructure protocol called More Markets suffered a significant loss after a lending reserve of Wrapped Flow (WFLOW) tokens was drained by an attacker. According to Web3 security platform Blockaid, approximately $9.3 million in digital assets were stolen from the mFlowWFLOW lending reserve on Flow EVM.

The attack utilized Ankr Staked FLOW (ankrFLOW), a liquid staking token, alongside E-mode to overborrow from the reserve. E-mode is an Aave V3 feature that increases borrowing power for assets whose prices are expected to move together.

This exploit contributes to total losses from cryptocurrency hacks reaching $139.7 million in August, making it the third-largest month by value stolen so far this year, according to DefiLlama data. The incident follows a recent reported $75 million exploit targeting DeFi lending protocol Tectonic on Cronos.