Mango Markets Proposes Plan to Pay Back Victims After $114 Million Hack

Oct 18,2022
KingData News: Mango Markets is proposing to pay back users with different tokens following a $114 million hack last week. The platform will use a snapshot of balances from an hour before the attacker made his first deposit on Oct. 11 at 6:19 p.m. ET. Mango Markets presented the motion in a Discord community call this morning. The DAO will have 72 hours to vote on the proposal once it's published. All perpetual futures, or borrowed funds, will be settled based on the time of the snapshot, and the Profit and Loss (PNL) will be converted to USDC.
This metrics provides a follow-up of hack incidents such as the exploitation of the Harmony-eco cross-chain bridge Horizon and the NFT lending protocol XCarnival.
20,852Follow
29,879

Recommend

More