#Giveaway  on last slide

Mango Markets Exploiter Arrested For $110M Crypto Fraud

Scribbled Arrow

TRENDING GLOBALLY

-: FOLLOW US :-  @theinsaneapp

An exploiter manipulated collateral prices in October to obtain tokens from Mango Markets' defi project. This resulted in a $110 million loss. 

-: FOLLOW US :-  @theinsaneapp

In exchange for a proposal to govern the project, the exploiter tried to make a governance proposal that would allow him to return some of the stolen funds.

-: FOLLOW US :-  @theinsaneapp

The exploit was orchestrated by Avraham Eisenberg, which quickly became clear. 

-: FOLLOW US :-  @theinsaneapp

Eisenberg spoke about the exploit in screenshots leaked from a private Discord conversation shortly before the attack.

-: FOLLOW US :-  @theinsaneapp

"I am investigating a platform that could lead to a $ 9-figure payday. Do I want to do it? He wrote. 

-: FOLLOW US :-  @theinsaneapp

Someone replied that it was legal unless it was extremely illegal. 

-: FOLLOW US :-  @theinsaneapp

Eisenberg declined to disclose the vulnerability to a protocol to someone who suggested it, stating that the bug bounty was probably very small.

-: FOLLOW US :-  @theinsaneapp

Eisenberg later admitted to the attack and tweeted a thread where he said he was "involved with a team which operated a highly profitable trade strategy last week." 

-: FOLLOW US :-  @theinsaneapp

All of our actions were legal open markets actions. 

-: FOLLOW US :-  @theinsaneapp

We used the protocol as designed even though the development team didn't fully anticipate the consequences.

-: FOLLOW US :-  @theinsaneapp

Eisenberg was arrested in Puerto Rico by the feds on December 26 after disagreeing with his assessment. 

-: FOLLOW US :-  @theinsaneapp

He was charged with commodities manipulation and commodities fraud.

#GIVEAWAY BY INSANE

Do you know that we give away around $250 USd in cash prizes every week?

Let’s grow together!