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Mango Market's DAO forum set to approve $47M settlement with hacker

Published 10/14/2022, 05:16 PM
Updated 10/16/2022, 07:40 PM
Mango Market's DAO forum set to approve $47M settlement with hacker

Following a $117 million exploit on Oct. 11, the Mango Markets community is set to make a deal with the situation by allowing the hacker to keep $47 million as a bug bounty, according to the decentralized finance (DeFi) protocol governance forum.

The proposed terms reveal that $67 million of the stolen tokens will be returned, while $47 million will be kept by the hacker. 98% of the voters, or 291 million tokens, have voted in favor of the deal, which also stipulates that Mango Markets will not pursue criminal charges against the hacker.

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