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ZEC $260.31 -8.86%

The Solana ecosystem decentralized finance platform Mango was attacked, with potential losses reaching 100 million dollars

2022-10-12 07:49:34
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ChainCatcher news, blockchain auditing company OtterSec tweeted a reminder that the Solana ecosystem's decentralized trading and lending platform Mango is facing a potential $100 million attack, with the vulnerability stemming from the attacker manipulating the value of its collateral. The attacker temporarily inflated the collateral value and then withdrew a large amount of loans from the Mango treasury.

In response, Mango stated that it is investigating an incident where a hacker extracted funds from Mango through oracle price manipulation, and is currently taking measures to have third parties freeze liquidity. As a precaution, Mango will disable deposits on the frontend and will provide updates as the situation develops, also stating that they can be contacted via email to discuss a bounty for the return of funds. (source link)

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