YourCryptoNews
  • Live Prices
  • Crypto News
    • Altcoins
    • Bitcoin
  • Defi News
  • NFT News
  • Blockchain
  • Regulations
  • Trading
  • Scams
No Result
View All Result
YourCryptoNews
  • Live Prices
  • Crypto News
    • Altcoins
    • Bitcoin
  • Defi News
  • NFT News
  • Blockchain
  • Regulations
  • Trading
  • Scams
No Result
View All Result
YourCryptoNews
No Result
View All Result

Mango Markets DAO set to approve $47 million bounty for hacker

October 14, 2022
in Altcoins
Reading Time: 2 mins read
A A
Mango Markets DAO set to approve $47 million bounty for hacker
ShareShareShareShareShare
Xeggex

A governance proposal seeking to pay up to $47 million to the Mango Markets hacker is set to be approved as it reaches an approval quorum of over 96%.

Following the Mango Markets hack of Oct. 12, the hacker submitted a proposal asking the project to use up to $70 million from its treasury to repay some bad debts. He agreed to return the funds upon meeting his terms.

In response, the project team created a proposal on Oct. 14, seeking to come to terms with the hacker. As per the proposal, the hacker will return up to $67 million and keep the remaining $47 million as a bug bounty.

A note to the hacker reads:

“Within 12 hours of the proposal opening, you shall send back the assets other than USDC, MSOL, MNGO, and SOL as a show of good faith.”

Mango Markets’ designated wallet for the refund has received only $8 million since the proposal launched some 12 hours ago.

If the hacker makes good on his promise, mango DAO treasury will complete the remaining funds needed to pay off the $70 million bad debt.

According to the Mango team, all deposits will receive their refunds once the proposal is passed and the hacker returns the funds.

As of press time, the proposal has reached a quorum of over 96%, with 119,000 votes in affirmation. Expectedly, the proposal will be passed on Oct. 15, at about 5:30 am EST.

According to CryptoSlate data, the  MNGO token is recovering having increased by about 11% in the last 24 hours, and trading at $0.02615.

Get an Edge on the Crypto Market 👇

Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.

On-chain analysis

Price snapshots

More context

Join now for $19/month Explore all benefits

Credit: Source link

You might also like

Sam Bankman-Fried denies he tried to sway witness, awaits possible contact restrictions

Sam Bankman-Fried denies he tried to sway witness, awaits possible contact restrictions

January 28, 2023
How crypto turned Portugal into a promised land for entrepreneurs

How crypto turned Portugal into a promised land for entrepreneurs

January 28, 2023

Related Stories

Sam Bankman-Fried denies he tried to sway witness, awaits possible contact restrictions
Altcoins

Sam Bankman-Fried denies he tried to sway witness, awaits possible contact restrictions

January 28, 2023
How crypto turned Portugal into a promised land for entrepreneurs
Altcoins

How crypto turned Portugal into a promised land for entrepreneurs

January 28, 2023
Token unlocks: short-term volatility brings long-term growth
Altcoins

Token unlocks: short-term volatility brings long-term growth

January 28, 2023
Binance is still operating normally despite months of FUD
Altcoins

Binance is still operating normally despite months of FUD

January 28, 2023
Next Post
Here’s Why This Rare CryptoPunk NFT Just Sold For $182,327 In ETH – Ethereum (ETH/USD)

Here's Why This Rare CryptoPunk NFT Just Sold For $182,327 In ETH - Ethereum (ETH/USD)

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Is crypto better or worse since its collapse? Here’s what CEOs at Davos said

Is crypto better or worse since its collapse? Here’s what CEOs at Davos said

January 22, 2023
50% of Cardano nodes hit with disconnection bug, Input Output investigates

50% of Cardano nodes hit with disconnection bug, Input Output investigates

January 23, 2023

Popular Story

    • Contact Us
    • Privacy Policy
    • Terms of Use
    • DMCA

    © 2021 - YourCryptoNews.net - All rights reserved!

    No Result
    View All Result
    • Live Prices
    • Crypto News
      • Altcoins
      • Bitcoin
    • Defi News
    • NFT News
    • Blockchain
    • Regulations
    • Trading
    • Scams

    © 2021 - YourCryptoNews.net - All rights reserved!

    • bitcoinBitcoin (BTC) $ 23,002.00 0.29%
    • ethereumEthereum (ETH) $ 1,567.54 1.7%
    • tetherTether (USDT) $ 1.00 0.09%
    • usd-coinUSD Coin (USDC) $ 0.999801 0.01%
    • bnbBNB (BNB) $ 305.22 0.75%
    • xrpXRP (XRP) $ 0.409122 0.73%
    • binance-usdBinance USD (BUSD) $ 0.999877 0.03%
    • cardanoCardano (ADA) $ 0.381563 1.42%
    • dogecoinDogecoin (DOGE) $ 0.087717 0.47%
    • matic-networkPolygon (MATIC) $ 1.14 1.28%
    • okbOKB (OKB) $ 38.80 6.99%
    • solanaSolana (SOL) $ 23.93 1.14%
    • staked-etherLido Staked Ether (STETH) $ 1,564.29 1.69%
    • polkadotPolkadot (DOT) $ 6.36 2.53%
    • shiba-inuShiba Inu (SHIB) $ 0.000012 0.38%
    • avalanche-2Avalanche (AVAX) $ 20.52 2.58%
    • litecoinLitecoin (LTC) $ 88.47 0.6%
    • tronTRON (TRX) $ 0.063010 0.8%
    • daiDai (DAI) $ 0.999922 0.01%
    • uniswapUniswap (UNI) $ 6.58 3.93%
    • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 22,953.00 0.1%
    • cosmosCosmos Hub (ATOM) $ 13.10 1.27%
    • the-open-networkToncoin (TON) $ 2.50 1.22%
    • chainlinkChainlink (LINK) $ 7.17 2.24%
    • leo-tokenLEO Token (LEO) $ 3.76 1.99%
    • moneroMonero (XMR) $ 185.03 3.13%
    • ethereum-classicEthereum Classic (ETC) $ 21.61 1.33%
    • aptosAptos (APT) $ 18.02 1.25%
    • bitcoin-cashBitcoin Cash (BCH) $ 131.41 2.18%
    • stellarStellar (XLM) $ 0.092045 0.4%
    • apecoinApeCoin (APE) $ 6.00 3.83%
    • quant-networkQuant (QNT) $ 149.00 1.71%
    • nearNEAR Protocol (NEAR) $ 2.46 2.82%
    • crypto-com-chainCronos (CRO) $ 0.081082 0.03%
    • filecoinFilecoin (FIL) $ 5.23 2.89%
    • lido-daoLido DAO (LDO) $ 2.23 7.01%
    • algorandAlgorand (ALGO) $ 0.255434 1.04%
    • vechainVeChain (VET) $ 0.024068 3.25%
    • internet-computerInternet Computer (ICP) $ 6.00 0.47%
    • hedera-hashgraphHedera (HBAR) $ 0.066880 4.36%
    • axie-infinityAxie Infinity (AXS) $ 11.33 1.31%
    • decentralandDecentraland (MANA) $ 0.695258 2.58%
    • aaveAave (AAVE) $ 83.72 3.36%
    • eosEOS (EOS) $ 1.09 2.2%
    • the-sandboxThe Sandbox (SAND) $ 0.738534 0.33%
    • fantomFantom (FTM) $ 0.447387 3.95%
    • elrond-erd-2MultiversX (EGLD) $ 44.31 0.89%
    • flowFlow (FLOW) $ 1.05 2.23%
    • theta-tokenTheta Network (THETA) $ 1.07 4.23%
    • terra-lunaTerra Luna Classic (LUNC) $ 0.000173 0.68%