Mango Markets community, hacked altcoin He is voting to make a deal with the hacker who stole $114 million from his platform.
According to the Agreement, the Hacker Will Return $ 67 Million to the Altcoin Platform, while Keeping $ 47 Million
Under the terms of the proposed deal, the hacker will return approximately $67 million of the tokens and keep the remaining $47 million as a bug bounty.
The management vote also states that the project will use treasury funds to clear any remaining bad debts and will not initiate criminal investigations after some of the tokens are returned.
It should be noted that the hacker used $10 million to carry out the attack, so this can be deducted from the applicable reward.
In the management vote, 119 million tokens voted in favor and 4.6 million tokens voted against. The vote has reached a quorum, meaning it will likely pass when the vote ends early on October 15.
This management vote was created by the Mango Markets team and does not appear to have voted from the main wallets associated with the hacker attack. Prior to this vote, the hacker initially created a management vote and voted with 33 million stolen altcoins.
According to the agreement, the hacker would also send back some of the tokens as a “goodwill gesture” shortly after the voting opened. According to on-chain data, these tokens worth $8 million were returned.
If the vote is accepted, cryptocurrency It will be one of the biggest bug bounties in history. However, it is unclear whether the agreement will be legally binding in terms of non-prosecution.
Mango Markets was a trading and lending broker platform on Solana. The attack took place due to Mango Market’s manipulation of the price of the native MANGO token. This has happened through the manipulation of Blockchain oracles, which provide blockchains with token price data.
The attack in question was just behind Cream Finance’s $130 million attack, making it the sixth largest DeFi attack in history.
*Not investment advice.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!