Mango Markets attacker puts forward proposal that would pay them $70 million bounty after stealing around $116 million from the DeFi platform.
On October 11, an exploiter stole about $116 million from Mango Markets. In exchange for supporting a governance proposal, they would receive about $70 million as a bounty reward.
The governance proposal is currently open for voting, which will end on October 14 at 9:12 p.m. Eastern Time. The attacker has also used the 0.66% of the total supply of stolen MANGO tokens they have obtained to vote in favor of the proposal.
According to the proposal, the attacker would return a variety of tokens worth roughly $50 million at the time of writing.
Mango Markets must first use the remaining $70 million USDC in its USDC treasury to repay all users who have no bad debt and any outstanding bad debt before sending those funds. Therefore, if accepted, the attacker would be allowed to keep the money after making up the difference.
In addition, the attacker would keep the remaining money from the initial exploit, which amounts to about $70 million.
If the proposal is approved and all conditions are met, there would be no legal recourse available to the attacker, including any criminal investigation or fund freezing.