Wrapped Flow Tokens Worth $93 Million Stolen in DeFi Attack

The DeFi lending protocol More Markets has been attacked on Flow EVM, resulting in the theft of approximately 155 million Wrapped Flow (WFLOW) tokens valued at around $93 million. According to Blockaid, a Web3 security platform, attackers exploited Ankr Staked FLOW (ankrFLOW) liquidity-staked tokens and combined them with Aave V3's E-mode functionality for over-lending, thereby depleting mFlow WFLOW lending reserves.

E-mode is an Aave V3 feature that enhances borrowing capabilities for assets with price expectation correlation, such as liquidity-staked tokens paired with their underlying assets. DefiLlama data shows that this attack has pushed the total August cryptocurrency heist losses to $139.7 million, making it the third-highest month since 2026, although down significantly from July's $254 million.

More Markets has not yet publicly confirmed or disclosed user loss as of press time. The incident comes after Cronos temporarily suspended its blockchain network following a $75 million attack on DeFi lending protocol Tectonic last Sunday.