Should crypto projects ever negotiate with hackers? Probably
A highly profitable trading strategy was how hacker Avraham Eisenberg described his involvement in the Mango Markets exploit that occurred on Oct. 11.
By manipulating the price of the decentralized finance protocols underlying collateral, MNGO, Eisenberg and his team took out infinite loans that drained $117 million from the Mango Markets Treasury.
The Mango Markets $47-million settlement received 96.6% of the votes. Source: Mango MarketsImmuneFis CEO, Mitchell Amador. Source: LinkedInPerhaps the Poly Network hacker really just wanted a small bounty for his efforts. Source: Tom Robinson via TwitterMany funds have been lost in DeFi exploits this year. Source: Token TerminalNot all hackers are interested in striking bounty deals with developers. Source: Nomad BridgeChainalysis VP of investigations, Erin Plante. Source: LinkedIn
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Best to avoid getting hacked in the first place. Source: Pexels
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