PANews reported on February 19th that after a DeFi lending protocol, Moonwell, suffered approximately $1.78 million in bad debt due to an oracle misconfigurationPANews reported on February 19th that after a DeFi lending protocol, Moonwell, suffered approximately $1.78 million in bad debt due to an oracle misconfiguration
Moonwell submits recovery plan and initiates partial compensation.
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PANews reported on February 19th that after a DeFi lending protocol, Moonwell, suffered approximately $1.78 million in bad debt due to an oracle misconfiguration, it released an update on the X platform regarding its incident handling. The update stated that its recovery plan has been published on the governance forum, which includes integrating the Moonwell Apollo (MFAM) community into the Moonwell ecosystem (WELL). The Moonwell Apollo Treasury will immediately initiate partial compensation, with continued compensation through protocol revenue. Furthermore, MFAM holders and stkWELL stakers are proposed to receive compensation at a 1:1.5 ratio (MFAM:stkWELL).
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