Discussion

• @mangomarkets @mangomarkets on x

  We are currently investigating an incident where a hacker was able to drain funds from Mango via an oracle price manipulation. We are taking steps to have third parties freeze funds in flight. 1/

• @osec_io @osec_io on x

  @mangomarkets was just drained for over $100M. https://trade.mango.markets/ ... 🧵 https://twitter.com/...

• @mangomarkets @mangomarkets on x

  Around 22:00 UTC October 11th the 🥭 protocol had an incident involving the following: -2 accounts funded with USDC took an outsized position in MNGO-PERP -Underlying MNGO/USD prices on various exchanges (FTX, Ascendex) experienced a 5-10x price increase in a matter of minutes

• @alex_valaitis Alex Valaitis on x

  So just to recap the @mangomarkets situation: -Hacker exploits Mango for $100M+ -Hacker turns around & offers to return most funds, if DAO promises not to pursue criminal investigations -Hackers uses 32M votes from the exploit to vote ‘Yes’ LMFAO you cannot make this shit up! htt…

• @osec_io @osec_io on x

  It appears 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. https://twitter.com/...

• @joshua_j_lim Joshua Lim on x

  1/ this is how I think the mango attack played out, please let me know if I got anything wrong: at 6:19 PM ET, attacker funded acct A (CQvKS...) with 5mm USDC collateral https://trade.mango.markets/ ... https://twitter.com/... https://twitter.com/...

• @mangomarkets @mangomarkets on x

  We will be disabling deposits on the front end as a precaution, and will keep you updated as the situation evolves. If you have any information, please contact blockworks@protonmail.com to discuss a bounty for the return of funds. 2/

• @mangomarkets @mangomarkets on x

  We want to clarify and add mention here that neither oracle providers have any fault here. The oracle price reporting worked as it should have. https://twitter.com/...

• @osec_io @osec_io on x

  At a high level, 1. This was not a flashloan attack 2. The attacker addresses were funded 5.5M via FTX 3. It appears the attacker manipulated prices across all exchanges, not just Solana oracles https://twitter.com/...

• @mmasnick Mike Masnick on x

  web3 democracy at work. https://twitter.com/...

• @pt Parker on x

  The Internet was a gift and I am so grateful to be alive at exactly this moment. https://twitter.com/...

• @osec_io @osec_io on x

  The attacker created a ~480M MNGO-PERP position and countertraded themself on another account. They then manipulated the price of MNGO up across a number of exchanges, borrowing against their unrealized MNGO gains to drain the protocol. https://twitter.com/...

• @cz_binance @cz_binance on x

  A lot of hacks in DeFi these days. Manage your risks. Think about worst-case scenarios. Don't put all your eggs in one basket. Stay #SAFU https://t.co/mMQPJLaGRK

• @joshua_j_lim Joshua Lim on x

  2/ attacker then offered out 483mm units of MNGO perps on the order book https://twitter.com/...

• @davidbelle_ David Belle on x

  So Mango up in smoke? 😤 https://twitter.com/...

• @cryptoboole Crypto Boole on x

  Regulatory pressure + risk adjusted returns make DeFi entirely unsuitable for any serious TVL in the short to medium term @mangomarkets are among the best of the best, their tech is art and team are rock solid Yet no person can think of all angles which many think to exploit http…

• @solrisefinance @solrisefinance on x

  We have temporarily disabled Mango deposits due to this incident. We are closely following the situation & will keep you updated as soon as there is new info. https://twitter.com/...

• @cokedupoptions John W. Rich on x

  Apple made $94 billion last year Mangos lost $115 million today Investing in fruit is unpredictable

• @smtuffy Sean Tuffy on x

  I find it fascinating that everyone in crypto seems to just accept this stuff as basically an acceptable cost https://twitter.com/...

• @tier10k @tier10k on x

  gm I see there was another catastrophic 9-figure exploit overnight, why is it always 12am UTC?

• @idrawcharts David Holt on x

  This sucks to hear, mango devs are some of the best and they've consistently been one of the highest quality products since early days of solana. Oracles are tricky (kinda like, way more than most people realize) https://twitter.com/...

• @nickatfp Nick on x

  I have the mangos and I am prepared to destroy the usb stick they reside on if my demands are not met https://twitter.com/...

• @cryptogodjohn Johnny on x

  Another DeFi exploit Damn, stay safe out there. https://twitter.com/...

• @0xfoobar @0xfoobar on x

  Looks like @mangomarkets got hacked for over 9 figures https://t.co/JnBUUL6znz