Mango: Hackers have returned assets worth $67 million, and a vote will be held next week to decide the distribution process

2022-10-16 10:21:57
Collection

ChainCatcher news reports that, according to a tweet from Mango, the hacker has returned $67 million worth of crypto assets to the DAO as agreed. The community will discuss how to handle these assets on Monday at 15:00 UTC in the Mango Discord. Some developers have already started to take responsibility and are researching an algorithm to determine the refund amounts for the relevant accounts; they are also looking into a separate program to reallocate the funds. Mango stated that multiple DAO votes will take place next week to reach a consensus on the exact procedures and amounts. Some of these votes will last up to 72 hours.

ChainCatcher previously reported that the Mango community voted yesterday to approve a new proposal, allowing the hacker to keep $47 million as a bounty for the exploit and return the remaining $67 million worth of stolen tokens. Mango token holders agreed to use treasury funds to repay the bad debts. Additionally, Avraham Eisenberg, the mastermind behind the Mango Markets exploit, confirmed his involvement in orchestrating the attack and claimed that all his actions were legal. (source link)

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.
ChainCatcher Building the Web3 world with innovators