Solana-Based Crypto Trading Platform Mango Markets Primed To Cut Deal With Hacker Behind $100,000,000 Exploit

Solana-based (SOL) crypto trading platform is ready to strike a deal with hackers who allegedly stole millions of dollars from its network.

According to recent information updatehackers and the Mango Markets DAO (Decentralized Autonomous Organization) have agreed on a deal whereby the villains will return some of the misused funds as a means of avoiding criminal prosecution.

In the proposal, which will be voted on by Mango’s governance board, the hackers will launch a medley of crypto assets worth approximately $47 million, including Bitcoin (BTC), Solana, Serum (SRM) and Ethereum (ETH), into the trading platform. will return. , FTX Token (FTT), Binance Coin (BNB), Mango (MNGO), Marinade Steaked Solana (mSOL), and stablecoin USD Coin (USDC).

Hackers were instructed to return virtual assets to crypto wallets belonging to the Mango Council.

Non-USDC, MSOL, MNGO, and SOL assets must be returned as good faith within 12 hours of opening the proposal. Remaining assets must be returned within 12 hours of voting being completed and passed shall be sent.

Funds transferred from you and the Mango DAO Treasury will be used to cover the bad debts remaining in the protocol. All mango depositors will be whole.

By voting on this proposal, Mango token holders agree to pay off their bad debts with the Treasury, waive any potential claims against accounts with bad debts and, once their tokens have been returned as described, We do not pursue criminal investigations or freeze funds. Moreover. ”

Other digital assets involved in trading include Avalanche (AVAX), STEPN (GMT), and Raidium (RAY).

Earlier this week, Mango Markets said it was hacked after scammers found ways to manipulate the price of the native asset MNGO, withdrawing $100 million worth of crypto assets from the exchange.

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