On November 4th, the blockchain security company BlockSec stated in a post that “Our system has detected a series of suspicious transactions targeting the DeFi lending protocol Moonwell smart contract (deployed on Base and Optimism). After conducting an analysis, it was found that the issue stemmed from abnormal price data of the rsETH/ETH token provided by an offline oracle. The price was exploited by an attacker (possibly an MEV bot), resulting in a loss of more than 1 million US dollars. It seems that the price data used by the protocol was updated improperly. Currently, it is not possible to directly contact the project team.”
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