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How much was drained in the More Markets attack?

The mFlowWFLOW lending reserve under More Markets was emptied after a sequence of transactions on the Flow EVM network. According to on-chain analysis by security firm Blockaid, the attacker withdrew about $9.3 million worth of 15.5 million Wrapped Flow (WFLOW) tokens from the reserve.

At the time of publication, the protocol had not issued a public confirmation of the incident. No official statement had been released on whether users were directly affected.

How did the attack work?

The role of E-mode and ankrFLOW

Blockaid said the attacker used ankrFLOW, a liquid staking product, to create higher borrowing capacity within the system. The firm said the attack also leveraged the E-mode mechanism on Aave V3.

E-mode is a feature that allows higher borrowing limits for assets expected to move in tandem. Using a liquid staking token together with its underlying asset in the same structure appears to have enabled borrowing beyond the normal reserve limits.

  • Amount withdrawn: about 15.5 million WFLOW
  • Blockaid’s valuation: about $9.3 million
  • Tools said to be used: ankrFLOW and E-mode

What do August's numbers and market impact show?

With this incident, total losses from crypto attacks in August 2026 reached $139.7 million, according to DefiLlama data. That made August the third-worst month of 2026 by value stolen.

Even so, the monthly total was well below the $254 million recorded in July. On Sunday, the Cronos network also halted its blockchain after a reported $75 million exploit targeting the DeFi lending protocol Tectonic.

These back-to-back incidents have once again put the spotlight on collateral structures, borrowing limits and risk management in DeFi protocols, especially those involving lending and liquid staking.

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