🌐 Cryptocurrency

Blockaid Flags $9.3M WFLOW Drain on More Markets via Ankr Staking Token and E-Mode Exploit

Blockaid says an attacker used an Ankr liquid staking token and E-mode to drain approximately $9.3 million in WFLOW from More Markets' lending reserve.

📅 August 31, 2026 🕐 1 min read

2 assets impacted (Crypto). Net bias: 0 Bullish, 2 Bearish, 0 Neutral. Strongest signal: WFLOW ↓ 8/10 (78% confidence).

📊 Affected Assets (2)

WFLOW

Bearish 🤖 78%

📅 Short-term 🌍 Global · Explicit

Blockaid reported an overborrowing exploit against More Markets using an Ankr liquid staking token and E-mode, resulting in a $9.3 million WFLOW drain. The removal of this liquidity from the lending reserve increases redemption pressure on WFLOW.

Catalysts

▼ Exploiter used Ankr liquid staking token and E-mode to overborrow and drain $9.3M in WFLOW
▼ More Markets lending reserve depleted, reducing available WFLOW liquidity

Risk Factors

▲ Protocol may replenish reserves or compensate affected users
▲ FLOW token price action could offset WFLOW drawdown

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How much WFLOW was drained from More Markets?

Blockaid reported approximately $9.3 million in WFLOW was drained from a lending reserve on More Markets.

What does the drain mean for WFLOW holders?

The reduction in reserve liquidity could pressure WFLOW liquidity and redemption conditions until the protocol restores funds.

FLOW

Bearish 🤖 55%

📅 Short-term 🌍 Global ✨ Inferred

WFLOW is a wrapped representation of FLOW, and a $9.3M drain from the More Markets reserve signals stress in the Flow DeFi ecosystem. While direct FLOW token impact isn't specified, negative sentiment around a major Flow-based lending exploit could weigh on FLOW demand and liquidity.

Catalysts

▼ WFLOW reserve depletion on More Markets may trigger sell pressure on FLOW
▼ Raised security concerns across Flow DeFi protocols

Risk Factors

▲ Overall crypto market strength could offset bearish FLOW sentiment
▲ More Markets may compensate affected users with FLOW, creating buy pressure

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Is FLOW directly affected by the More Markets exploit?

FLOW is inferred to be at risk because WFLOW is a wrapped version of FLOW; negative sentiment and liquidity concerns could spill over.

📝 Executive Summary

Blockaid said an attacker used an Ankr liquid staking token and E-mode to overborrow from More Markets and drain about $9.3 million in WFLOW from a lending reserve.

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