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Moonwell, a decentralized finance (DeFi) lending protocol deployed on Base and Optimism, was exploited for about $1.78 million after a pricing oracle for Coinbase Wrapped Staked ETH (cbETH) returned a value of about $1.12 instead of $2,200, creating a mispricing that attackers were able to use for profit.
Moonwell said in an incident post-mortem that a governance proposal executed on Sunday misconfigured the cbETH oracle by using the cbETH/ETH exchange rate alone, causing the system to report cbETH at…
https://cointelegraph.com/news/moonwell-exploit-cbeth-oracle-misprice-ai-commits-testing-audits?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
