Solana Top DeFi Platform, Mango Suffers a $115M Hack
victorbassey.substack.com
In what has become a series of embarrassing crypto hacks of late coming few days after the Binance Bridge exploit, Mango a top decentralised cross-trading platform quintessential to the Solana ecosystem has been hit with a ~115M hack. Mango Markets offers spot margin and leverage trading of crypto assets (perpetual futures). The protocol utilises oracles (3rd party entities/data feeds) to get on-chain data of token prices from trusted external sources to execute trades and perform other functions accurately without deviating from the underlying market prices of assets the oracle tracks and reports back to Mango.
Solana Top DeFi Platform, Mango Suffers a $115M Hack
Solana Top DeFi Platform, Mango Suffers a…
Solana Top DeFi Platform, Mango Suffers a $115M Hack
In what has become a series of embarrassing crypto hacks of late coming few days after the Binance Bridge exploit, Mango a top decentralised cross-trading platform quintessential to the Solana ecosystem has been hit with a ~115M hack. Mango Markets offers spot margin and leverage trading of crypto assets (perpetual futures). The protocol utilises oracles (3rd party entities/data feeds) to get on-chain data of token prices from trusted external sources to execute trades and perform other functions accurately without deviating from the underlying market prices of assets the oracle tracks and reports back to Mango.