More Markets Loses $9.3M in Flow EVM Drain, Blockaid Says

Web3 security firm Blockaid says an attacker drained ~$9.3M in WFLOW from More Markets' lending reserve on Flow EVM using an Ankr liquid staking token and E-mode.

Crypto Security & DeFi Exploit News

A lending reserve on Flow EVM-based protocol More Markets was drained of approximately $9.3 million on Aug. 31, according to Web3 security platform Blockaid. The firm said the attacker extracted around 15.5 million Wrapped Flow (WFLOW) tokens from the mFlowWFLOW reserve.

Blockaid disclosed the incident in a post on X, sharing blockchain data to support its findings. The firm said the attacker used Ankr Staked FLOW (ankrFLOW), a liquid staking token, in combination with E-mode to overborrow from the reserve.

E-mode, or efficiency mode, is an Aave V3 feature that raises borrowing power for assets whose prices are expected to move in tandem, such as a liquid staking token and the underlying asset it represents. By pairing ankrFLOW with E-mode, the attacker was able to borrow beyond what standard collateral limits would have allowed.

August Hack Losses Climb to $139.7M

The More Markets incident pushed total losses from cryptocurrency exploits in August to $139.7 million, making it the third-largest month by value stolen in 2026 so far, according to DefiLlama data. That figure is, however, still well below the $254 million stolen across all hacks in July.