Solana Mango-Based Trading Platform Reportedly Achieved $115 Million Mining

Mango Markets, a decentralized trading platform on the Solana blockchain, appears to be the latest victim of a major crypto hack.

On Tuesday night, Mango Note on Twitter that it is “currently investigating an incident where a hacker was able to withdraw funds from Mango through magical price manipulation,” adding that it is disabling deposits as a precautionary measure.

The current, about $117 million seems to have been drained.

Blockchain audit firm OtterSec note that it looks like An attacker was able to “manipulate” their collateral on Mango, thereby lending them excessive loans from the platform’s coffers: “They temporarily increased the value of their collateral. , and then took out huge loans from the Mango treasury,” OtterSec wrote.

Mango has yet to confirm a clear cause of the exploit.

Luck reached out to Mango and Solana for comment but did not receive an immediate response.

This potential mining is among a series of recent crypto ecosystem attacks — there have been many hacks today aloneand last week, a bridge used by cryptocurrency exchange Binance was hacked for $100 million.

The Solana ecosystem has had a particularly difficult year: The blockchain itself has deal with multiple outages, performance is degraded and the network is unstable. For example, on September 30, Solana has suffered a severe power outage take many hours to recover. Solana-based applications have also encountered security issues, including The $5 Million Slope Wallet Hack.


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