Mango Markets attacker earns another $100,000 from Mango Inu meme token

One of the participants in the Mango Markets attack on the Solana-based DeFi platform похвастался, claiming he earned $100,000 in half an hour by launching the Mango Inu meme token.

On October 12, unknown actors withdrew from the protocol digital assets amounting to about $116 million, manipulating price oracles.

On October 15, the user Avraham Eisenberg [Avraham Eisenberg] admitted that he had joined the group that carried out the exploit. He believed there was nothing illegal in its actions.

Statement on recent events:

I was involved with a team that operated a highly profitable trading strategy last week.

— Avraham Eisenberg (@avi_eisen) October 15, 2022

However, as a result of the losses, the platform became insolvent, and Eisenberg agreed to a settlement that included returning part of the assets.

The Mango Markets community backed the decision, under which the hackers returned $69 million, keeping $47 million as a reward. The platform team proposed a plan to compensate the affected users.

On October 23, Eisenberg said he launched a ‘shitcoin’ called Mango Inu and did not promote it at all. In total, bots bought the tokens for more than $250,000 in half an hour.

“We’re still so far from the bottom. For clarity, if you buy this, you will definitely lose all your money,” he noted.

The other day I deployed a shitcoin called Mango Inu and did absolutely no promotion. It got over 250k invested/gambled in like a half hour.

We’re still so far away from the bottom.

(to be clear if you buy this you will definitely lose all your money)

— Avraham Eisenberg (@avi_eisen) October 23, 2022

In his view, ‘a bot exploit is fine’.

In commentary on the Mango attack, FTX CEO Sam Bankman-Fried commenting on the Mango attack noted that the ability to withdraw funds was not due to faulty oracles but weaknesses in the platform’s risk-management system.

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