Mango protocol hacker recovered $8 million of stolen funds
The return of tokens was supposed to be decided by a vote. But the amount was deposited into the crypto platform's account before the final decision was made
The hacker who hacked the Mango Market crypto platform and stole about $115 million in cryptocurrency has begun returning the stolen funds. The company has received $7.8 million in tokens, according to cybersecurity firm PeckShield.
A hacker attacked Mango's credit protocol on the Solana blockchain earlier this week. The criminal used a scheme called the "oracle attack," in which manipulating the price of the MNGO platform's native token allowed the attacker to steal approximately $115 million in assets in various tokens.
The hacker reached out to the platform team and offered a deal. He is willing to return the tokens on the condition that they will be spent to cover bad debts of users. The hacker offered to resolve the issue by a vote by the end of the day on October 14. 94 million votes have already been cast "FOR" the proposal.
The Mango DAO page also states that there will be no criminal investigations or freezing of funds after the return of assets under the scheme described there.
On Oct. 11, the QANplatform protocol smart contract was also hacked. The attacker took out about 50% of the entire supply of native tokens of the QANX platform for a total of about $1.1 million, after which the price of the QANX token collapsed to almost zero values.