DEX Mango Markets Will Alter Multi-Sig Feature to Mitigate Security Threats After $114M Exploit

Solana-based decentralized exchange (DEX) Mango Markets has announced two new features ahead of its version 4 (v4) rollout, with focus on mitigating immediate security threats.

Mango has been offline since it suffered an exploit in October. The exploit resulted in $114 million being siphoned out of the exchange after its pricing oracles were manipulated.

In an attempt to avoid another hack or exploit Mango will impose new limits on the multi-sig wallet, which will allow the developers to respond to «unforeseen market dynamics» and any vulnerabilities in the program code.

«All other changes to the program need to be approved by all holders of the DAO,» the exchange said in a tweet.

In the event of unforeseen market conditions, Mango’s security council can put the protocol into «post-only mode» to limit deposits, buys, borrows and position increases. The decentralized autonomous organization (DAO) can then vote on whether to halt trades, force settlement or updating risk parameters.

The exchange, which processed over $28 billion in transactions from its inception to when it was halted, is expected to put its v4 product into beta mode over the coming months, although a definitive date isn’t set.

Read more: Legal Expert Says Mango Markets Exploit Case Is Wake-Up Call for DAOs

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