Flow

Base

Avici

Ankr

Moonwell

The Blockaid security firm has reported an exploit estimated to have drained roughly $9.3 million from More Markets’ WFLOW lending reserve in the early hours of August 31, 2026.&nbsp;
The Flow EVM lending protocol built by More Labs did not immediately confirm the loss in its response to the reports, <a href="https://x.com/MORE_DeFi/status/2094337707753222313" rel="noopener noreferrer nofollow">writing</a> that it is “currently investigating a claim that MORE Markets was exploited”&nbsp;&nbsp;
<h3 id="span-style-font-weight-400-how-did-attackers-drain-more-markets-span">How did attackers drain More Markets?&nbsp;</h3>
More Markets has not yet confirmed the incident or loss, and a full post-mortem is not available as of this report. Blockaid also stopped short of fingering Ankr or the Flow blockchain as compromised.&nbsp;
However, <a href="https://x.com/blockaid_/status/2094317778719142172" rel="noopener noreferrer nofollow">the security firm estimated</a> that the attack could have come from one of two key components:&nbsp;
<ul>
 <li style="font-weight: 400;">An Ankr-bonded liquid staking token</li>
 <li style="font-weight: 400;">More Markets’ E-Mode setting, a mode that lets borrowers take on higher leverage against correlated assets.&nbsp;</li>
</ul>
An alternative theory being <a href="https://x.com/sprunky_eth/status/2094336742232887517" rel="noopener noreferrer nofollow">popularized by Sprunky</a>, an on-chain analyst, is that this is a cross-protocol liquidity extraction that runs deeper than a simple “Ankr LST plus E-mode” bug.&nbsp;&nbsp;
<h3 id="span-style-font-weight-400-exploits-are-finding-big-and-small-targets-span">Exploits are finding big and small targets</h3>
By size, More Markets is not a big target and this incident is not expected to have a seismic effect throughout DeFi. <a href="https://defillama.com/protocol/more" rel="noopener noreferrer nofollow">DeFiLlama data</a> puts the protocol’s combined total value locked at $5.6 million, with about $3.41 million in active loans.
However, the episode lands a fresh hit during a rough stretch for DeFi. <a href="https://www.cryptopolitan.com/moonwell-price-manipulation-exploit/" rel="noopener noreferrer nofollow">Cryptopolitan reported</a> that Moonwell lost as much as $9 million in late August to a MAMO price-manipulation attack on its Base market, its third security incident in nine months.&nbsp;
Days later, Solana neobank <a href="https://www.cryptopolitan.com/avici-crashes-hackers-drain-solana-neobank/" rel="noopener noreferrer nofollow">Avici was drained</a> of about $500,000 and pledged full refunds, while Ethereum lending protocol Ajna lost roughly $775,000 to liquidation accounting manipulation.&nbsp;
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Attackers drain $9.3M in suspected More Markets exploit

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