diff --git a/src/meta-morpho.ts b/src/meta-morpho.ts
index fe25c07..2c44bf6 100644
--- a/src/meta-morpho.ts
+++ b/src/meta-morpho.ts
@@ -633,7 +633,8 @@ export function handleTransfer(event: TransferEvent): void {
   updateMMRate(event.address);
   if (
     event.params.from.equals(Address.zero()) ||
-    event.params.to.equals(Address.zero())
+    event.params.to.equals(Address.zero()) ||
+    event.params.value.isZero()
   ) {
     // mint / burn transfer
     return;