Mango Exploiter Launches Vote on Proposal to Repay Bad Debt, Currently at 100% Support

Mango exploiter launches community vote on a proposal to repay bad debt. The proposal states that there is currently about $70 million available in the Mango treasury to repay bad debt. All users without bad debt will be made whole. Any bad debt would be viewed a bug bounty/insurance and paid out of the Mango insurance fund. If this proposal passes, the exploiter will send $MSOL, $SOL and $MNGO from the account to the address published by the Mango team. In addition, the exploiter requests that the tokens be sent back without criminal liability. The current proposal support rate is 100%.

Previously, Solana-based DeFi platform Mango was drained for over $100 million. The exploiter was able to manipulate their Mango collateral. They temporarily spiked up their collateral value, and then took out massive loans from the Mango treasury.