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Solana [SOL]-based DeFi platform Mango Markets permitted a proposal that can let the hacker hold virtually half of the $113 million he stole from the protocol earlier this week.
In a twist of occasions….
…the Mango Markets DAO has voted overwhelmingly in favor of a counteroffer. This is able to allow the platform them to obtain $66 million, and the hacker to stroll away with a document $47 million. All this, with out the danger of authorized motion towards the accused.
In response to the Mango DAO governance discussion board, the counter proposal handed with overwhelming assist from the group, with greater than 96% that voted in favor of this transfer. Moreover, as per the settlement, the hacker will return 799,155 mSOL, 761,577 SOL, 281.498 BTC, 226 ETH, 1,809 AVAX, 32,409,565 MNGO, and 10,000,000 USDC amongst different tokens.
“All mango depositors might be made entire. By voting for this proposal, mango token holders conform to repay the unhealthy debt with the treasury, and waive any potential claims towards accounts with unhealthy debt, and won’t pursue any legal investigations or freezing of funds as soon as the tokens are despatched again as described above.” the proposal reads.
A division of belief
The feedback left on the proposal web page by the group members made one factor very clear. And it was that the proposal to make depositors “entire” performed an enormous half in motivating them to vote in favor of this proposal. This transfer was described by many as audacious, given the massive bounty awarded.
As per the trade customary, most bounties are capped at 10% of the exploited funds. Moreover, the DAO additionally submitted to the hackers demand of repaying the protocol’s money owed utilizing funds from the treasury. These money owed stemmed from a bailout that was facilitated by Mango Markets and Solana-based Solend earlier in June.
The hacker’s initial proposal was very unpopular with the group, which was evident by the 90% votes that went towards it.
