Mango DAO Offers $47M to Hacker To Settle Case Without Charges


  • Hacker stole $100 crypto tokens from the Mango Markets Exchange.
  • On the contrary, Mango DAO offered $47 million to that hacker to pay off bad debt.
  • The hacker needs to return $67 million under the terms of the deal.

On Tuesday, a hacker stole $100 million worth of cryptocurrency from the Mango Markets Exchange through an exploit in the Mango Markets Solana DeFi exchange. The hacker initially raised their collateral and then went about cashing out mounds of funds from the Mango treasury. 

However, instead of pressing charges, Mango DAO offered the hacker a deal that would allow him to still get to keep half of the amount he stole.

The decentralized autonomous organization, offered a bug bounty of $47 million to that hacker to settle the case without any legal harassment. 

This means that the hacker whole stole $100 million is required to return $67 million under the terms of the deal. Mango DAO wants to settle this case without pressing any charges for reasons unknown to the public.

“We are seeking to make users whole to the extent possible,” the Mango DAO proposal stated, addressing the loot.

While the Mango DAO debated on the public forum about the best way to proceed, the hacker proposed their own suggestions on returning the funds, on Mango’s governance forum, via the tokens the thief stole to vote in favour of the proposal.

Moreover, Mango has a counter proposal in place that demands the return of assets and the amount the hacker and the DAO both agreed on. These include 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.