ETH Price Oracle Vulnerability Enables MEV Bot Exploit on MoonwellDeFi, Over $1 Million Lost on Base and Optimism

According to official disclosures from COINOTAG News on November 4, BlockSec’s monitoring system flagged a sequence of unusual transactions aimed at the MoonwellDeFi smart contracts deployed on the Base and Optimism networks.

Analysts indicate the issue centered on oracle data integrity for the rsETH/ETH pair rather than contract logic, suggesting possible exploitation by MEV bots and cross‑chain timing gaps. Early estimates show potential losses exceeding $1 million; investigators caution that outcomes depend on on‑chain validation and oracle resilience.

Going forward, the incident underscores the need for diversified oracle feeds and enhanced anomaly detection across L2 ecosystems. BlockSec and MoonwellDeFi teams are coordinating to audit the price‑feed pipeline, reinforce guardrails, and communicate findings to users and liquidity providers.