More Markets Hit By $9.3M Exploit Draining Lending Reserve On Flow EVM

TL;DR

• More Markets lost about $9.3 million after an attacker used ankrFLOW and E-mode to overborrow roughly 15.5 million WFLOW from a lending reserve.
• August crypto hack losses reached $139.7 million, making it 2026’s third-largest month by stolen value, though still below July’s $254 million.
• More Markets had not publicly confirmed the exploit or user losses, leaving questions about recovery, while the incident renewed scrutiny of correlated-asset borrowing and lending-risk controls.

More Markets suffered a roughly $9.3 million drain from a lending reserve on Flow EVM after an attacker exploited borrowing mechanics involving Ankr Staked FLOW and E-mode, according to Blockaid. About 15.5 million Wrapped Flow tokens were removed from the mFlowWFLOW reserve. The core issue was an overborrowing setup that combined a liquid staking token with efficiency-mode borrowing power. E-mode, derived from Aave V3, increases borrowing capacity for assets expected to move closely together, such as a liquid staking token and its underlying asset, creating the conditions used in the incident.

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