MoonwellDeFi Smart Contract Exploited: Over $1 Million Lost

A security alert has been issued following the discovery of a vulnerability impacting MoonwellDeFi’s smart contracts on the Base and Optimism chains. BlockSec, through its system analysis, detected suspicious transactions associated with this incident. The root cause is attributed to inaccurate off-chain oracle data for token prices (rsETH/ETH), which potentially allowed MEV bots to exploit the vulnerability. This exploitation resulted in losses exceeding $1 million.