Odaily Planet Daily reports that after a bad debt of approximately $1.78 million caused by an oracle configuration error, the DeFi lending protocol Moonwell released an incident response update on the X platform. It states that the recovery plan has now 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 ongoing compensation to be provided through protocol revenue. Additionally, MFAM holders and stkWELL stakers are expected to receive compensation at a ratio of 1:1.5 (MFAM:stkWELL).
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Pi Network Tests AI Computing on Nodes Ahead of Pi Day DEX Launch
Pi Network tested AI image recognition on nodes with OpenMind, using idle CPU power during its ongoing Mainnet upgrade phase.
The network requires Mainnet nodes to upgrade to v20.2 by March 12 as part of its path toward version 23.0 in Q2 this year.
Pi Network is testing artificial
CryptoNewsFlash37m ago
XRP Ledger Plans to Become Native DeFi Lending Powerhouse - U.Today
The XLS-66 proposal aims to enhance the XRP Ledger with native lending and borrowing capabilities, allowing users to earn returns on idle capital. For activation, it requires 80% validator approval, currently lacking sufficient support.
UToday1h ago
Circle Moves $68 Million in 30 Minutes Using USDC, Showing Real Power of Stablecoin Payments
Circle recently demonstrated the transformative potential of stablecoins in corporate finance by swiftly transferring $68 million using USDC, showcasing advantages like instant settlement and improved transparency over traditional banking methods.
CryptometerIo1h ago
Cardano promotes stablecoin USDCx, aiming for direct withdrawals without bridges
Input Output Group (IOG) has clarified its strategy for expanding stablecoin integration on Cardano through the USDCx infrastructure. This system, backed 1:1 by USD Coin in Circle's xReserve smart contract, enables various DeFi activities, targeting direct USDC withdrawals to enhance liquidity without relying on bridges. IOG emphasizes that USDCx is a long-term upgrade for Cardano's financial infrastructure.
TapChiBitcoin5h ago
X Money Account Opening Process Revealed: Complete in Less Than 1 Minute, Supports Facial Recognition Verification
Crypto KOL AB Kuai.Dong revealed the account opening process for X Money. Users only need to enter basic information to open an account within 1 minute. X Money supports virtual and physical cards, offering withdrawal and spending functions, with a transfer limit of $1,000,000 and a withdrawal limit of $100,000.
GateNews6h ago
CEO BitGo: Crypto company has a structural advantage in the digital asset custody race
Mike Belshe, CEO of BitGo, highlights the structural advantages of native crypto companies in digital asset custody, contrasting with traditional banks' conflicts of interest. BitGo generates over 80% of its revenue from stable custody fees, recently receiving a federal banking license. As of September 2025, BitGo is safeguarding $104 billion in assets for over 4,900 institutional clients globally.
TapChiBitcoin7h ago
