$100M drained from Solana DeFi platform Mango Markets, token plunges 52% By Cointelegraph
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$100M drained from Solana DeFi platform Mango Markets, token plunges 52%(SOL) based decentralized finance (DeFi) exchange Mango Markets has been hit with a reported exploit of over $100 million through an attacker manipulating price oracle data, allowing them to take out under-collateralized cryptocurrency loans.
The exploit was first identified by blockchain security firm OtterSec which tweeted the exchange had been drained of over $100 million due to the attacker manipulating the value of their Mango (MNGO) native token collateral, then taking out “massive loans” from Mango’s treasury.
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$100M drained from Solana DeFi platform Mango Markets, token plunges 52%(SOL) based decentralized finance (DeFi) exchange Mango Markets has been hit with a reported exploit of over $100 million through an attacker manipulating price oracle data, allowing them to take out under-collateralized cryptocurrency loans.
The exploit was first identified by blockchain security firm OtterSec which tweeted the exchange had been drained of over $100 million due to the attacker manipulating the value of their Mango (MNGO) native token collateral, then taking out “massive loans” from Mango’s treasury.
Continue Reading on Coin Telegraph
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