Search results for Moonwell
Crypto
August crypto hacks hit 50 incidents, cases up 67 percent while losses halved
Major hacking incidents in the crypto industry rose sharply in August from the previous month, with 50 cases tallied, up about 67 percent from July’s 30. Despite the jump in incidents, the total value of stolen assets fell to $136.3 million, down 49.5 percent from about $270 million in July, as the scale of large incidents declined. Tectonic Finance accounted for the largest single loss at about $74 million.
Crypto
Many DeFi projects shut down in 2025 on low use, vanishing token liquidity
Many decentralised finance (DeFi) projects stopped operating in 2025. Crypto influencer Greenbutred named Linear Finance, ZK Lend, Loopring DeFi, Delv, Kinto and Minterest as projects that shut down that year. They shared problems including low usage, depleted token liquidity, hacking losses, delistings and worsening market conditions. Influencer Stacy Muur said many DeFi protocols with almost no revenue were barely holding on, citing projects with less than $3,000 in fee income over the past 30 days.
Crypto
Moonwell DeFi protocol hit by $1.7 million hack after AI smart contract bug
Moonwell, a decentralised finance lending protocol, suffered a $1.7 million hacking loss due to an AI-based smart contract error, Cointelegraph reported on Feb. 18. Moonwell had expected AI-assisted smart contracts to strengthen security, but AI-generated code created a vulnerability that led to the attack. Cointelegraph said a cbETH price oracle output $1.12 instead of $2,200, which attackers exploited. CEO Parker Smith warned AI can speed coding but increase risk without stronger security checks.
