Hacker Mango Returned $67 Million, Distribution Will Be Voted
Mango officially announced that the hacker group returned $67 million in crypto assets to DAO under the agreement. The community will discuss how to deal with these assets in Mango Discord next Monday at 3pm UTC.
In the latest announcement by Mango Markets, $67 million in DAO crypto assets were returned by the hacker group. To decide the distribution process for these assets, a vote on Mango Discord next Monday at 3 p.m. UTC.
According to the announcement, several developers took charge and worked on an algorithm to determine the amount of refunds for the accounts involved.
A separate program is also being worked on to reallocate funds. Mango said there will be more DAO votes next week to agree on the exact procedure and amount. Some of these votes will take up to 72 hours.
As mentioned in previous Coincu News articles, $114 million of Defi platform built on Solana was stolen late on October 11. A $47 million payout to the hacker as a bug bounty passed in a DAO governance vote. This is also considered the biggest reward for hackers.
Yesterday, a character named Avraham Eisenberg posted on his official Twitter account and admitted to being behind the Mango Market attack. He believes that all his actions are not illegal. The hack is just like an automatic debt forgiveness operation on exchanges. Thanks to that action all users will be able to fully access their deposit without losing money.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Foxy
CoinCu News
Author
DeFi
Hacker Mango Returned $67 Million, Distribution Will Be Voted
Mango officially announced that the hacker group returned $67 million in crypto assets to DAO under the agreement. The community will discuss how to deal with these assets in Mango Discord next Monday at 3pm UTC.
In the latest announcement by Mango Markets, $67 million in DAO crypto assets were returned by the hacker group. To decide the distribution process for these assets, a vote on Mango Discord next Monday at 3 p.m. UTC.
According to the announcement, several developers took charge and worked on an algorithm to determine the amount of refunds for the accounts involved.
A separate program is also being worked on to reallocate funds. Mango said there will be more DAO votes next week to agree on the exact procedure and amount. Some of these votes will take up to 72 hours.
As mentioned in previous Coincu News articles, $114 million of Defi platform built on Solana was stolen late on October 11. A $47 million payout to the hacker as a bug bounty passed in a DAO governance vote. This is also considered the biggest reward for hackers.
Yesterday, a character named Avraham Eisenberg posted on his official Twitter account and admitted to being behind the Mango Market attack. He believes that all his actions are not illegal. The hack is just like an automatic debt forgiveness operation on exchanges. Thanks to that action all users will be able to fully access their deposit without losing money.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Foxy
CoinCu News
Other Posts
Related Posts
Organic Coverage
