Moonwell cbBTC Supplier Asks for a Remediation Plan as the Market Holds $1.72 in Cash
AI summary
Nearly 10 weeks after the MAMO exploit, a Moonwell cbBTC supplier is formally demanding a remediation plan. A read of the Base contract shows only about $1.72 in cash remaining against roughly $4.56 million in loans, with almost no cbBTC left to withdraw. The request has drawn no replies, raising concerns about bad debt and lender recovery on the market.
