Mango Madness: Exploiter Could Walk Away With Unparalleled ~$50M Bug Bounty
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....
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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....
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 […]