Breaking News: Solana-Based Decentralized Finance Platform Mango Hit by Potential $100 Million Exploit

Mango, a decentralized finance platform hosted on the Solana Blockchain, appears to have been exploited for over $100 million.

The exploit was initially reported on Twitter by blockchain auditors OtterSec, who say “the attacker was able to manipulate their Mango collateral.”

“They temporarily spiked up their collateral value, and then took out massive loans from the Mango treasury,” OtterSec tweeted.

CoinDesk has reached out to Mango for comment and will update this article should we hear back.

Mango, for its part, is urging users not to «deposit into Mango until the situation is more clear.»

It’s the second major decentralized finance attack in less than a week, coming hot on the heels of an $80 million hack last week of Binance’s BNB blockchain.

This is a developing story and will be updated.

UPDATE (Oct. 11, 2022 23:30 UTC): Adds Tweet from Mango.

Source