Mango Markets Attacker Wants To Pay $70 Million Bounty Via Governance Proposal
An exploiter who stole over $100 million from Mango Markets on October 11 proposed a governance proposal that, if approved, would provide them with approximately $70 million in the form of a bounty award.
The voting period for the governance plan is currently open and will expire on October 14 at 1:12 a.m. UTC. The attacker has also voted yes on the proposition with their stolen MANGO tokens, which are equal to 0.66% of the entire supply.
According to the idea, the attacker would return different tokens worth around $50 million at the time of writing. The transfer of that money is conditional on Mango Markets utilizing its remaining $70 million USDC treasury to repay all users who do not have bad debt as well as any outstanding bad debt.
If the proposal is approved, the attacker will be able to keep the remaining monies after paying the difference.
The leftover monies from the first vulnerability that the attacker would keep the amount to around $70 million.
If the request is approved and all commitments are completed, no criminal inquiry or freezing of cash would be permitted against the attacker.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
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DeFi
Mango Markets Attacker Wants To Pay $70 Million Bounty Via Governance Proposal
An exploiter who stole over $100 million from Mango Markets on October 11 proposed a governance proposal that, if approved, would provide them with approximately $70 million in the form of a bounty award.
The voting period for the governance plan is currently open and will expire on October 14 at 1:12 a.m. UTC. The attacker has also voted yes on the proposition with their stolen MANGO tokens, which are equal to 0.66% of the entire supply.
According to the idea, the attacker would return different tokens worth around $50 million at the time of writing. The transfer of that money is conditional on Mango Markets utilizing its remaining $70 million USDC treasury to repay all users who do not have bad debt as well as any outstanding bad debt.
If the proposal is approved, the attacker will be able to keep the remaining monies after paying the difference.
The leftover monies from the first vulnerability that the attacker would keep the amount to around $70 million.
If the request is approved and all commitments are completed, no criminal inquiry or freezing of cash would be permitted against the attacker.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
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