"Solana DeFi Trading Platform Mango Markets Loses $100M in Hack"

In the second DeFi hack this week, Mango Markets was drained of over $100 million in funds due to an exploit.  Mango Markets tweeted Tuesday evening that a hacker was able to empty funds from Mango via an oracle price manipulation.  Only last Thursday, $100 million was stolen from the Binance Smart Chain, another DeFi protocol.  According to researchers at the blockchain auditing website OtterSec, the attacker temporarily drove up the value of their collateral and then took out loans from the Mango treasury.  The attacker took out a $116 million loan, leaving Mango's treasury with a negative balance of -116.7 million.  Assets drained include USDC, MSOL, SOL, BTC, USDT, SRM, and MNGO, wiping out all of Mango's liquidity.  In response, Mango Markets says it has disabled deposits and is taking steps to have third-party funds frozen.  Mango Markets is a Solana-based platform for trading digital assets on the Solana blockchain for spot margin and trading perpetual futures.  Mango Markets has offered the attacker the chance to collect a bug bounty in exchange for returning the stolen funds.

Decrypt reports: "Solana DeFi Trading Platform Mango Markets Loses $100M in Hack"