DeFi

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

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.

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.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.