Ethereum (ETH) Price Oracle Exploit Impacts Moonwell on Base and Optimism, Over $1 Million Lost

New content:

BlockSec warns of a wave of suspicious transactions targeting the Moonwell DeFi lending protocol on Base and Optimism. The incident centers on abnormal rsETH/ETH price data fed by an offline oracle, which appears to have been exploited by an attacker, resulting in losses exceeding $1 million.

BlockSec‘s preliminary assessment underscores the risk from off-chain price feeds and delayed data updates. The firm notes that direct contact with the Moonwell team was not achievable at present, highlighting the need for stronger oracle resilience and faster incident response.

For investors and operators, the episode reinforces the importance of diversified price sources, on-chain verification, and continuous monitoring to mitigate oracle-driven risks within DeFi ecosystems.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.