Mango Markets hacker proposes steep settlement
The Solana DeFi protocol suffered a $117 million exploit on Oct. 11, and the hacker wants 70M USDC in "bug bounty." On Wednesday, one day after $117 million was drained from Solana DeFi platform Mango Markets via a price feed exploit, the hacker responsible for the attack demanded a settlement. The proposal was filed on the Mango Markets decentralized autonomous organization (DAO) governance forum. If passed, the procedure would involve the hacker sending stolen Mango Markets (MNGO), Solana (SOL), and Marinade Staked SOL tokens to an address provided by the Mango DAO team. Users without....
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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....
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....
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 […]
Mango Markets was victim to the latest exploit this week, as crypto cannot seem to escape an absolutely abhorrent Tuesday. Two exploits less than one day apart – and less than a week after the BNB Chain exploit that utilized a bridge to create millions of new BNB. Another nine-figure exploit has rocked the crypto sphere, this time with Solana-based Mango Markets. The protocol faced a massive drain of funds, over $100M worth, after a hacker drained the project through price manipulation and high-dollar leverage. Let’s look at this latest exploit and what we know in the early....
Forget March Madness, Mango Madness is in season this time of year. The Solana-based lending protocol has been a spectacle unlike any other throughout this week, and that’s certainly saying something considering the amount of antics crypto brings to the table on frequent occasion. Since our first covering of Mango’s exploit that led to a full-fledged drain of the protocol, things have only gotten more twisted and convoluted. Let’s take a look at how things have developed this week and where things go for Mango Markets moving forward. A Mango Monstrosity Mango’s....