Decentralized lending protocol Moonwell is investigating an issue affecting the MAMO Core Market on Base, after security firms CertiK and PeckShield estimated losses of approximately $8.7 million. Attackers allegedly manipulated the MAMO token's collateral price to borrow real cbBTC. As a precaution, Moonwell has set borrow caps for all Core Markets on Base to 1 wei, preventing new borrowing. Moonwell's WELL token is down around 13% and MAMO has fallen roughly 9% over the past 24 hours.