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Mango Markets exploiter comes forward

Updated on 2022-10-19: Mango Markets exploiter comes forward

In a series of tweets over the weekend, an individual named Avraham Eisenberg took credit for the attack on Mango Markets following which he walked away with $114 million worth of cryptocurrency. Eisenberg came clean after he was publicly identified as the attacker last week and after the Mango Markets community voted to allow him to keep $47 million of the exploited funds if he returned $67 million back to the platform, so it and all the other projects that depended on it could avoid insolvency. Read more:

Updated on 2022-10-14

While this might sound like an extreme reaction to something related to crypto, the details of the Mango Markets hack will justify just this.

Mango Markets, a trading and lending platform based on Solana, was hacked, and a bad actor stole US$117 million from the protocol.

October has shaped up to be the worst month for decentralized finance (DeFi) hacks ever.

In an interesting turn of events, the hacker submitted a proposal on the platform’s governance forum to return most of the stolen money in exchange for not being criminally investigated.

The person then used the MNGO tokens they owned to vote “yes” on the proposal, which now has a 99.9% approval rate.

Yes, DeFI is a weird place.

Updated on 2022-10-13

Cryptocurrency trading platform Mango Markets suffered a flash loan attack in which the attacker stole over $100 million in cryptocurrency. Read more: Crypto trading platform Mango Markets drained of more than $100 million in flash loan attack

Overview

DeFi platform Mango Markets said it was hacked on Tuesday. While the company didn’t disclose the sum, early estimates claim hackers stole ~$112 million worth of cryptocurrency from the platform. Other details are currently unavailable.

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