More Markets Lending Reserve Drained of $9.3 Million on Flow EVM, Blockaid Says

DeFi protocol More Markets had about $9.3 million of digital assets drained from a lending reserve on Flow EVM, according to blockchain security firm Blockaid, which linked the incident to the use of a liquid staking token and an efficiency-mode borrowing feature.

Blockchain data shared by Blockaid on Monday showed about 15.5 million Wrapped Flow (WFLOW) tokens were taken from the mFlowWFLOW reserve. The security firm valued the assets at roughly $9.3 million.

More Markets had not publicly confirmed the incident or said whether users incurred losses at the time of the initial report.

Blockaid Links Drain to ankrFLOW and E-Mode

Blockaid said the attacker used Ankr Staked FLOW (ankrFLOW), a liquid staking token, together with E-mode to borrow more assets from the reserve.

E-mode, or efficiency mode, is a feature introduced in Aave V3 that allows greater borrowing capacity for assets expected to maintain correlated prices, including a liquid staking token and its underlying asset.

August Crypto Hack Losses Reach $139.7 Million

The incident added to a string of crypto exploits in August. Cryptocurrency hack losses for the month reached $139.7 million, the third-highest monthly total of 2026, according to DefiLlama data. That remained below the $254 million recorded in July. 

The broader security concerns extended into the weekend. On Sunday, Cronos halted its blockchain after an exploit involving the lending protocol Tectonic. The Tectonic incident was estimated at $75 million, though the protocol had not confirmed the amount.