- Blockaid says an attacker drained 15.5 million WFLOW, worth about $410,000 by its estimate.
- The attacker realized ~$250k after slippage.
- More Markets says it is still investigating and has not confirmed a loss.
The Blockaid security firm has reported an exploit estimated to have drained roughly $410,000 from More Markets’ WFLOW lending reserve in the early hours of August 31, 2026.Â
The Flow EVM lending protocol built by More Labs did not immediately confirm the loss in its response to the reports, writing that it is “currently investigating a claim that MORE Markets was exploited” Â
Was More Markets hacked?Â
No, More Markets has said its contracts were not compromised.
Initial reports claimed that the exploit affected More Markets directly. However, further clarification has shown that the exploit was in an Ankr solidity contract, not a Flow EVM or More Market.Â
Per Blockaid’s initial report, the security firm estimated that the attack could have come from one of two key components:Â
- An Ankr-bonded liquid staking token
- More Markets’ E-Mode setting, a mode that lets borrowers take on higher leverage against correlated assets.Â
Exploits are finding big and small targets
By size, More Markets is not a big target and this incident is not expected to have a seismic effect throughout DeFi. DeFiLlama data 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. Cryptopolitan reported 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.Â
Days later, Solana neobank Avici was drained of about $500,000 and pledged full refunds, while Ethereum lending protocol Ajna lost roughly $775,000 to liquidation accounting manipulation.Â
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FAQs
How much was taken from More Markets?
Blockaid estimated roughly $410,000, drawn from 15.5 million WFLOW emptied from the mFlowWFLOW reserve, but it called that a "detector impact" and said the final loss is not yet confirmed while investigators trace the funds.
How did the attacker exploit More Markets?
According to Blockaid, the attacker combined an Ankr bonded liquid staking token with More Markets' E-Mode mechanism to drain the WFLOW lending reserve on Flow EVM. Blockaid did not say Ankr or the Flow blockchain itself was compromised.
Has More Markets confirmed the hack?
No. In an August 31 post on X, More Markets said it was investigating a claim that it had been exploited and would share its findings, without confirming a loss amount or a fix.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Hannah Collymore
Hannah is a writer and editor with nearly a decade of blog writing and event reporting experience in the crypto space. At Cryptopolitan, Hannah contributes to the news page, reporting and analyzing the latest developments in DeFi, RWA, crypto regulation, AI and frontier tech industries. She graduated from Arcadia university with a degree in Business Administration.
