Mango Markets community approves $47 million deal with hacker

The Mango Markets DeFi platform community проголосовало in favour of an agreement with the hacker. He will return $69 million and keep the remaining $47 million as a reward.

Support for the proposal came from 96.6% of users. All participants will be fully reimbursed from treasury funds and will waive any potential claims and criminal proceedings.

According to The Block, the hacker used $10 million to carry out the attack. Despite this, his bounty could become one of the largest in the cryptocurrency industry.

That same day, unknown withdrawn digital assets worth about $116 million were withdrawn from Mango Markets. The hack was attributed to oracle price manipulation.

That same day the head of the cryptocurrency exchange FTX, Sam Bankman-Fried commented on the Mango Markets hack. He said that it was not faulty price oracles but deficiencies in the risk‑assessment system that allowed the attacker to move the funds.

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