Moola Market Was Attacked, The Damage Was Estimated At $8.4 Million

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Moola Market, a Celo network-based decentralized finance lending mechanism, has ceased operations following an $8.4 million exploit.

Moola Market Was Attacked, The Damage Was Estimated At $8.4 Million 2

The attacker earned 8.8 million CELO ($6.5 million), 765,000 cEUR ($700,000), 1.8 million MOO ($600,000), and 644,000 cUSD ($600,000) for his services.

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Today @Moola_Market has been exploited for $8.4M:

– 8.8M CELO ($6.5M)
– 765k cEUR ($0.7M)
– 1.8M MOO ($0.6M)
– 644k cUSD ($0.6M)

It was an incredibly simple attack???? pic.twitter.com/mSRNaMBwQi
— Igor Igamberdiev (@FrankResearcher) October 18, 2022

After the incident, Moola Market is still actively investigating the incident and has suspended all activities on the platform. In the meantime, Moola advises users not to trade mTokens.

We are actively investigating an incident on @Moola_Market. All activity on Moola has been paused. Please do not trade mTokens.

To the exploiter, we have contacted law enforcement and taken steps to make it difficult to liquidate the funds. We are willing to negotiate a…
— Moola Market ???? (@Moola_Market) October 18, 2022

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