BREAKING: Solana-based mangomarkets appears to be the victim of the latest $100 million DeFi exploit. skesslr reports
Mango, a decentralized finance platform hosted on the Solana Blockchain, appears to have been exploited for over $100 million.
The exploit was initially reported on Twitter by blockchain auditors OtterSec, who say “the attacker was able to manipulate their Mango collateral.” “They temporarily spiked up their collateral value, and then took out massive loans from the Mango treasury,” OtterSecMango, for its part, is urging users not to"deposit into Mango until the situation is more clear."
Mango is a decentralized crypto exchange on the Solana blockchain that offers users the ability to make spot trades and loans. Mango's MNGO token was down over 42% in the past 24 hours amid fears that the platform may have been exploited, according to price data fromThursday's exploit the second major decentralized finance attack in less than a week, coming hot on the heels of anUPDATE : Adds Tweet from Mango.
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