Moonwell (WELL)

Moonwell @MoonwellDeFi tried to do this almost 1.5 years ago now, under appreciated for what they have done for base.

Other saw the same opportunity and now scaling. https://t.co/4q6g2njNgJ

Moonwell hit by governance attack — $1.08M at risk for $1,800 spend

🚨⚠️ ATTACK ON MOONWELL $WELL: OVER $1 MILLION THREATENED

The DeFi protocol Moonwell is facing an ongoing attack on its Moonriver deployment, where an actor managed to push a malicious proposal endangering more than $1 million.

The attacker reportedly spent about $1,800 to acquire enough tokens (approximately 40 million) to pass a vote that gives them administrative control over the protocol’s key contracts.

The entire operation—token purchase, proposal creation, and vote validation—was completed in just 11 minutes.

If the proposal is executed, it would allow taking control of several lending markets, the comptroller system, and the oracle, paving the way for a full withdrawal of funds estimated at around $1.08 million.