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BTC $63,964.45 -0.40%
ETH $1,907.22 +1.07%
BNB $612.82 +0.12%
XRP $1.01 +1.08%
SOL $76.45 +0.78%
TRX $0.3358 -0.01%
DOGE $0.0713 +0.89%
ADA $0.1836 -1.81%
BCH $215.20 +0.87%
LINK $8.82 +1.93%
HYPE $56.17 +2.46%
AAVE $89.55 +0.76%
SUI $0.6909 +0.31%
XLM $0.1615 +0.65%
ZEC $493.78 +1.36%

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

2022-10-12 07:49:34

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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