The Mango Markets hacker claimed everything he and his supposed team did was legal and a part of a profitable trading strategy.
With October becoming one of the worst months in terms of hacks against crypto platforms, Mango Markets – a Solana-based DeFi project – stood out with an exploit worth about $115 million.
Both parties sat at the online negotiation table after the hack, with the attacker proposing to erase all the bad debts. This was voted against by the community, even though the hacker had obtained a massive portion of the protocol’s governance token MNGO and voted in favor of their own proposition. But to set expectations clear, there should be multiple DAO votes next week, to agree on the exact procedure and amounts. Some of them will require 72hours of voting time.It’s worth noting that Mango’s native token plunged following the hack by more than 50% in hours, from $0.04 to under $0.02. As of now, it trades inches above the latter.While the community insists that what happened to Mango Markets was indeed an exploit , the attacker doesn’t believe so.
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