Attackers drain $9.3M in suspected More Markets exploit
The Blockaid security firm has reported an exploit estimated to have drained roughly $9.3 million from More Markets’ WFLOW lending reserve in the early hours of August 31, 2026.
The Flow EVM lending protocol built by More Labs did not immediately confirm the loss in its response to the reports, writing that it is “currently investigating a claim that MORE Markets was exploited”
How did attackers drain More Markets?
More Markets has not yet confirmed the incident or loss, and a full post-mortem is not available as of this report. Blockaid also stopped short of fingering Ankr or the Flow blockchain as compromised.
However, the security firm estimated that the attack could have come from one of two key components:
- An Ankr-bonded liquid staking token
- More Markets’ E-Mode setting, a mode that lets borrowers take on higher leverage against correlated assets.
An alternative theory being popularized by Sprunky, an on-chain analyst, is that this is a cross-protocol liquidity extraction that runs deeper than a simple “Ankr LST plus E-mode” bug.
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