More Markets
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Summary
More Markets is a DeFi lending protocol built on the Flow EVM blockchain by More Labs, operating as a fork of Aave V3. On August 31, 2026, an attacker exploited the protocol's E-Mode mechanism using Ankr's ankrFLOW liquid staking token as collateral to drain approximately 15.5 million WFLOW tokens, valued at roughly $9.3 million according to security firm Blockaid's initial estimate. The protocol subsequently paused operations and disputed the scale of losses reported by Blockaid, attributing the root vulnerability to a third party, though a post-mortem had not been published as of the date of this report.
Connected Entities
1 entities · 10 linked investigationsTimeline(7 events)
2 October 2024
More Markets announced launch on Flow blockchain's Crescendo mainnet with two initial lending markets and ecosystem incentives.
More Markets X announcement27 December 2025
Separate incident: Flow network Cadence execution layer exploited via type confusion vulnerability; approximately $3.9 million drained before validators halted the chain. More Markets was not directly implicated.
Flow Foundation Post-Mortem27 August 2026
Moonwell on Coinbase Base drained of approximately $8.7 million via MAMO token price manipulation — first of three DeFi lending exploits in five days.
BitRss — More Markets on Flow EVM Becomes Third DeFi Lending Exploit in Five Days30 August 2026
Tectonic on Cronos drained of an estimated $66 to $75 million after TONIC token price was inflated approximately 100 times in 20 minutes; Cronos validators halted the chain.
BitRss — More Markets on Flow EVM Becomes Third DeFi Lending Exploit in Five Days31 August 2026
At approximately 06:18 UTC, Blockaid detected and disclosed an exploit on More Markets' mFlowWFLOW reserve on Flow EVM. An attacker used ankrFLOW as collateral in E-Mode to drain approximately 15.5 million WFLOW tokens, initially valued at approximately $9.3 million.
More Markets Hacked for $9.3M on Flow EVM — Crypto Times31 August 2026
More Markets posted initial X statement acknowledging an investigation into exploit claims, followed by subsequent posts asserting contracts were secure, the protocol was solvent, and that actual bridged losses were less than 5% of Blockaid's reported figure. The protocol was paused. More Markets attributed root cause to an unspecified third party.
More Markets X — @MORE_DeFi31 August 2026
Multiple outlets reported post-exploit TVL at approximately $3.64 million against active loans of approximately $3.67 million, representing near-zero buffer between assets and liabilities. No formal post-mortem had been published.
More Markets on Flow EVM Becomes Third DeFi Lending Exploit in Five Days — BitRssDecision Log
- #1publish⛓ pending9/1/2026, 12:05:15 PMhash: DnBptfA5mmuzSvnMD7Go5H2Hi5qCNemWRBAQ3JYVKQZ4
8 of 17 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 9/1/2026, 12:05:05 PM
last updated: 9/1/2026, 3:37:56 PM
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