More Markets loses $9.3M in WFLOW after lending reserve exploit

A lending reserve on the More Markets platform lost about $9.3 million in Wrapped Flow (WFLOW) tokens after an exploit, according to blockchain security firm Blockaid.

The attacker drained roughly 15.5 million WFLOW from the mFlowWFLOW lending reserve on Flow EVM, a blockchain network. Blockaid said the attacker used Ankr Staked FLOW (ankrFLOW), a liquid staking token, along with a feature called E-mode to overborrow from the reserve.

E-mode, short for efficiency mode, is a feature from Aave V3 that allows higher borrowing power for assets expected to move together in price, such as a liquid staking token and its underlying asset.

Key details of the exploit

• Attacker drained 15.5 million WFLOW, valued at about $9.3 million.
• Exploit involved Ankr Staked FLOW (ankrFLOW) and E-mode to overborrow.
• Incident occurred on the Flow EVM blockchain.
• More Markets has not publicly confirmed the incident or user losses.

August hack losses

Blockaid noted that this exploit brings total losses from cryptocurrency hacks in August to $139.7 million, making it the third-largest month for stolen funds in 2026. This is down from $254 million stolen in July, according to data from DefiLlama.

What is still unclear

More Markets has not confirmed the incident or whether users suffered losses. Cointelegraph reported it contacted Blockaid and More Markets but did not receive a response by the time of publication.

Sources

• Cointelegraph