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Hacks and exploits in the decentralized finance (DeFi) sector have not slowed during this bear market and Mango Markets has become the latest victim.
The Solana-based DeFi trading platform Mango Markets is the latest victim of a large exploit that has resulted in the loss of as much as $100 million.
In the early hours of Oct. 12, the protocol tweeted that it was investigating an incident where a hacker was able to drain funds by manipulating oracle prices:
We are currently investigating an incident where a hacker was able to drain funds from Mango via an oracle price manipulation.
We are taking steps to have third parties freeze funds in flight. 1/
— Mango (@mangomarkets) October 11, 2022
A self-funded attack on Mango Markets
DeFi sleuths at blockchain security firm OtterSec broke down the attack confirming that it d
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