- More Markets, a DeFi vault protocol, lost approximately $9.3 million in Wrapped Flow tokens from its mFlowWFLOW lending reserve on Flow EVM.
- The attacker exploited the platform using Ankr Staked FLOW and Aave V3’s efficiency mode (E-mode) to overborrow from the reserve.
- August’s total crypto hack losses reached $139.7 million, making it the third-largest month in 2026, though a significant drop from July’s $254 million.
- Separately, Cronos halted its blockchain after a $75 million exploit targeting DeFi lending protocol Tectonic on Sunday.
More Markets, a decentralized finance vault infrastructure protocol, had a lending reserve drained of approximately $9.3 million in digital assets on Flow EVM, according to Web3 security platform Blockaid. The attacker removed about 15.5 million Wrapped Flow (WFLOW) tokens, valued at roughly $9.3 million, from the mFlowWFLOW lending reserve, according to data shared by Blockaid in a Monday X post.
Blockaid reported that the attacker used Ankr Staked FLOW (ankrFLOW), a liquid staking token, alongside E-mode to overborrow from the reserve. E-mode, short for efficiency mode, is an Aave V3 feature that increases borrowing power for assets whose prices are expected to move together, such as a liquid staking token and its underlying asset.
Consequently, the exploit pushed total losses from cryptocurrency hacks to $139.7 million for August, making it the third-largest month by value stolen so far in 2026. However, this marks a significant decrease from $254 million stolen during July, according to data from DefiLlama.
Meanwhile, on Sunday, Cronos halted its blockchain network after a reported $75 million exploit targeting DeFi lending protocol Tectonic. More Markets had not publicly confirmed the incident or disclosed whether users suffered losses at the time of publication.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
