How low liquidity led to Mango Markets losing over $116 million
An attacker took advantage of low liquidity to steal over $116 million from Mango Markets. It would seem that the hackers used an “oracle price manipulation” tactic in the exploit on the Solana-based DeFi network, as indicated by a tweet sent by the official account for the Mango cryptocurrency exchange.In mid-October, traders took advantage of a vulnerability in the decentralized finance (DeFi) trading platform Mango Markets and stole more than $110 million worth of cryptocurrencies off the network. We are currently investigating an incident where a hacker was able to drain funds from....
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Avraham Eisenberg is at it again, following up his exploit of Mango Markets by deploying a new 'shitcoin' named Mango Inu to purportedly swipe liquidity from bot traders. In just over a week after pulling off the $117 million exploit of Mango Markets, Avraham Eisenberg is now boasting about making $100,000 rug-pulling a “shitcoin” called Mango Inu, again claiming he "did nothing wrong." Eisenberg recently ousted himself as one of the persons behind the recent $117 million exploit of the Solana-based decentralized finance (DeFi) platform Mango Markets, which he has also claimed was "legal."....
Mango Markets, a decentralized trading platform on the Solana blockchain, has become “ripe for harvest” when it fell victim to hackers who stole more than $100 million from the platform, Fortune reported Wednesday. The hack looked to be the consequence of a price manipulation on Mango Market’s native MNGO token, according to a tweet from […]
According to various reports, the Solana-based trading and lending platform Mango Markets was hacked as a malicious actor was able to siphon $117 million from the protocol. An analysis of the hack published by Certik explains that the attacker manipulated the price of the project’s native token mango (MNGO) which allowed them to borrow $117 million against the exploited collateral. Mango Markets Hacked for $117 Million, Blockchain Security Firm Summarizes the Attack Vector On Tuesday, the Solana-based Mango Markets platform was hacked for $117 million. The team tweeted about the issue at....
Over 98% of voting tokens favor the deal, which also stipulates that Mango Markets won't pursue criminal charges. Following a $117 million exploit on Oct. 11, the Mango Markets community is set to make a deal with its hacker, allowing the hacker to keep $47 million as a bug bounty, according to the decentralized finance (DeFI) protocol governance forum. The proposed terms reveal that $67 million of the stolen tokens will be returned, while $47 million will be kept by the hacker. 98% of the voters, or 291 million tokens, have voted in favor of the deal, which also stipulates that Mango....
Crypto trader Avraham “Avi” Eisenberg was found guilty by a Manhattan jury in October 2022 of orchestrating a $110 million fraud scheme targeting the decentralized finance (DeFi) protocol, Mango Markets. According to prosecutors, Eisenberg, operating under a false identity, allegedly engaged in market manipulation to drive up the price of Mango’s token, MNGO, and related […]