Written by Zoltan Vardaistaff writerReviewed by Robert Lakinstaff editor

Written by Zoltan Vardaistaff writer

Reviewed by Robert Lakinstaff editor

More Markets lending reserve drained for $9.3M: Blockaid

Latest NewsPublishedAug 31, 2026

Blockaid stated an attacker used an Ankr liquid staking token and E-mode to overborrow from More Markets and drain about $9.3 million in WFLOW from a lending reserve.

Decentralized finance (DeFi) vault infrastructure protocol More Markets had a lending reserve drained of about $9.3 million in digital assets on Flow EVM, as reported by Web3 security platform Blockaid.

The attacker drained about 15.5 million Wrapped Flow (WFLOW) tokens, valued by Blockaid at approximately $9.3 million, from the mFlowWFLOW lending reserve, as reported by blockchain data shared by Blockaid in a Monday X post.

Blockaid stated the attacker used Ankr Staked FLOW (ankrFLOW), a liquid staking token, alongside E-mode to overborrow from the reserve.

E-mode, short for efficiency mode, is an Aave V3 feature that increases borrowing power for assets whose prices are expected to move together, such as a liquid staking token and its underlying asset.

The exploit pushed total losses from cryptocurrency hacks to $139.7 million for August, making it the third-largest month by value stolen so far in 2026. nevertheless, it marks a notable decline from $254 million stolen during July, as reported by DefiLlama data.

On Sunday, Cronos halted its blockchain network after a reported $75 million exploit targeting DeFi lending protocol Tectonic.

More Markets had not publicly verified the incident or disclosed whether users suffered losses at the time of publication. Cointelegraph contacted Blockaid for more details but did not receive a response by publication and was unable to reach More Markets for comment.

Related: Humanity Protocol to prioritize operational security following $36M hack

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

• Hackers
• Hacks
• DeFi
• Cybersecurity
• Lending
• Scams & Cybercrime

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