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A flashloan exploit has been detected on the Moonhacker contracts associated with the Moonwell DeFi lending pools on the Optimism network, resulting in a loss of approximately $320,000. The attack involved the use of a malicious contract address as the 'mToken' to gain unauthorized token approvals, draining funds from the affected vault. However, both Moonwell DeFi and independent auditors have confirmed that all funds within the Moonwell protocol remain secure and that no vulnerabilities exist within its contracts. The incident underscores the ongoing risks associated with reentrancy attacks and flashloan exploits in the Web3 environment.
Yesterday, a third-party vault that supplied into Moonwell's USDC Core Market on @Optimism was exploited. No Moonwell contracts were compromised, and funds remain safe across all deployments. Learn more: ⬇️ https://t.co/7j3ZI9tcd5
Last night, a vault on @Optimism named "Moonhacker" had a vulnerability that was exploited and I'd like to explain what happened. First, let me be clear: All funds on @MoonwellDeFi are safe and there are no vulnerabilities in the Moonwell protocol. 🧵 https://t.co/vPIJyX7kvC
🚨ALERT🚨Our system has identified a #FlashLoan exploit targeting @MoonwellDeFi's $USDC lending contract on the #Optimism network resulting in a $320K loss. The attacker leveraged a malicious contract address as the 'mToken' to secure unauthorized token approvals from… https://t.co/zWpog9tYAk
