The hacker behind it mango exploit market who gobbled up $117 million, revealed his identity on Twitter and described his actions as “legal” and “a highly profitable trading strategy”.
What happened: The hacker identified himself as Abraham Eisenberg called himself a “dealer in digital art,” according to his Twitter bio.
This comes a day after Eisenberg repaid over $67 million to the Solana-based SOL/USD DeFi platform on October 16 and kept $47 million as a bug bounty.
Because Mango is a decentralized autonomous organization, over 98% of voters voted in favor of the deal, which also stipulates that Mango Markets will not pursue criminal charges against the hacker.
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Why it matters: The attacker had deleted assets including USD coin USDC/USD, Marinade with Solana piles MSOL/USDsolana, Bitcoin BTC/USD, tether USDT/USD, serum SRM/USDand mango MNGO/USD.
Users did not have access to their funds immediately after the exploit.
“Unfortunately, the exchange on which this took place, Mango Markets, went bankrupt as a result, with insufficient insurance funds to cover all liquidations,” Eisenberg tweeted. “This resulted in other users not being able to access their funds. To remedy this, I helped negotiate a settlement agreement with the insurance fund.” Referring to the $47 million error settlement, he added that once the Mango team processed the split of the returned funds, “all users will be able to fully access their deposits without loss of money.”
price action: MNGO is at $0.024354 according to CoinMarketCap, up 2.36% in the last 24 hours and a trading volume of $182,989.
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