Mango Markets $100 Million Exploiter Reveals Identity
Source: Mango Markets The exploiter of Solana-based DeFi lending platform Mango Markets has revealed his identity, referring to his actions as "a highly profitable trading strategy.” Avraham Eisenberg, who calls himself a "digital art dealer," has revealed that he was behind the $100 million exploit that hit Mango Markets earlier last week. "I was involved with a team that operated a highly profitable trading strategy last week," he said in a Saturday tweet. In his admission, Eisenberg argued that their "actions were legal open market actions, using the protocol as designed, even if the development team did not fully anticipate all the consequences of setting parameters the way they are.” However, as a result of the exploit, Mango Markets became insolvent, Eisenberg noted, adding that the insurance fund was also insufficient to cover all liquidations. This led to the loss of over $100 million in user funds. "To remedy the situat...