Mango attack incident hacker proposal: Use $70 million from the treasury to repay bad debts, voting will end in 3 days

ChainCatcher news, the hacker behind the Mango attack has proposed to use approximately 70 million USDC from the Mango treasury to repay bad debts. If this proposal is approved in the vote three days from now, the hacker will transfer MSOL, SOL, and MNGO from their account to the address published by the Mango team.

In addition, the hacker stated: "All remaining bad debts in the protocol will be repaid by the Mango treasury, and users without bad debts will not be affected. Any bad debts will be treated as a vulnerability bounty/insurance, to be paid by the Mango insurance fund. If Mango Token holders vote in favor of this proposal, it indicates their agreement to pay this bounty and use the treasury to repay bad debts, and they waive any potential claims against the bad debt accounts. Once the tokens are repaid according to the above rules, there will be no criminal investigation or asset freeze."

It is reported that earlier today, the Solana ecosystem DeFi platform Mango was attacked, with potential losses exceeding 100 million dollars. (source link)