The proposal for the Mango Markets hacker to return part of the funds in exchange for a huge reward has been approved with almost 97% approval and more than 473 million votes.
Following the $117 million exploit on Oct. 11, the Mango Markets community was willing to compromise with their hacker, allowing him to keep $47 million as bug pay, according to the Decentralized Finance (DeFi) Protocol Governance Forum. ).
The proposed terms suggest that $67 million in stolen tokens would be returned and $47 million would go to the hackers. 98% of voters, or 291 million tokens, voted in favor of the deal, which also stipulates that Mango Markets will not face criminal charges in the matter.
The generosity of Mango Markets has stolen the spotlight from the crypto market. It has caught the attention of some members of the community, as the Mango Markets hacker could earn $47 million. This could possibly be the biggest reward ever.
The hackers carried out the attack by manipulating the security value of local MNGO tokens and then taking "mass loans" from Mango vaults. After running out of funds, the hackers demanded a settlement and completed a proposal on Mango's Decentralized Autonomous Organization (DAO) forum, requesting $70 million at the time.
What is not clear is whether an actual crime has been committed. The fact is that the exploit was due to an economic error in the design of the protocol. Although those who lost MNGO funds will clearly not see it this way.
The price of Mango Markets' native MNGO token has gained 8% on the day the governance vote reached quorum. At the time of writing, the price of MNGO was trading at $0.023