Moonwell Protocol Loses Over $1M on Base and Optimism Due to Oracle Malfunction

Moonwell Protocol lost more than $1 million across Base and Optimism chains on Nov. 4 due to faulty rsETH/ETH price data from an off-chain oracle, BlockSec reports. The security firm's detection system identified suspicious transactions exploiting the vulnerability. MEV bots were responsible for the exploits, according to BlockSec's analysis.