According to the Mango governance forum, the Mango Markets community is prepared to strike a deal with its hacker, enabling the hacker to keep $47 million as a bug reward.
According to the proposal, the hacker will keep $47 million while returning the remaining $67 million in tokens. The settlement has received support from 96% of the voters, and also guarantees that Mango Markets will not take legal action or won’t freeze the funds in the matter.
The members of the Mango Market community reacted on twitter in regards to the set agreement as well.
The proposal has been questioned at the governance forum by users as well, as stated by one user “Agree 100% that making users funds whole ASAP is the top priority but a $50m “bug bounty” is ridiculous. At most the exploiter should get their costs back ($15m?) plus $10m.”
The hacker obtained “massive loans” from Mango’s treasury to carry out the attack by altering the value of the MNGO native token collateral.
After stealing the money, the hacker requested payment and posted a request for $70 million on the Mango Market’s decentralised autonomous organisation (DAO) forum at the time. The hacker has voted for this proposal using millions of tokens stolen from the exploit.
The counter proposal from the DAO lists the assets and the amounts stolen, asking the thief to return them based on an agreement with the DAO, including 799,155 mSOL, 761,577 SOL, 281.498 BTC, 2,354,260 SRM, 226 ETH, 11,774 FTT, 608 BNB, 152,843 GMT, 98,295 RAY, 1809 AVAX, 32,409,565 MNGO, and 10,000,000 USDC.
The proposal states that the hacker should “send back the assets other than USDC, MSOL, MNGO, and SOL” within 12 hours of the proposal. Also, remaining assets shall be sent within 12 hours once the vote is complete and passes.
The proposal demands the thief send most of the funds to a wallet owned by the Mango Upgrade Council.
Mango DAO further stated that funds sent by the thief and funds in the DAO’s treasury will be used to cover any remaining bad debt in the protocol to make “mango depositors whole.”
