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$114M Mango Markets Exploiter Outs Himself, Returns Most of the Money
Avraham Eisenberg defended his actions after returning $67 million. The Mango DAO plans to vote on how to divvy up the funds next week.
Updated May 9, 2023, 3:59 a.m. Published Oct 15, 2022, 7:10 p.m.
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Avraham Eisenberg, who says he's part of a group that drained $114 million from decentralized crypto exchange Mango Markets last week, returned $67 million to the Solana-based decentralized finance (DeFi) hub on Saturday as he defended his actions – which some have called an exploit – as both legal and highly lucrative.
Statement on recent events:
— Avraham Eisenberg (@avi_eisen) October 15, 2022
I was involved with a team that operated a highly profitable trading strategy last week.
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Today's tweets from Eisenberg – who was accused this week of being the Mango exploiter after allegedly executing similar attacks in the past – mark the first time he has publicly acknowledged his role in the exploit. “I believe all of our actions were legal,” he tweeted.
Mango Markets said in a tweet that its decentralized autonomous organization (DAO) community would vote in the coming days to decide how to divvy up the returned funds. Mango’s thread did not lay out a timeline for refunds but said there would be “multiple DAO votes next week.”
Read more: How Market Manipulation Led to a $100M Exploit on Solana DeFi Exchange Mango
“Everything has to go through DAO proposals,” Daffy Durairaj, co-founder of Mango Markets, wrote in the project's Discord. “My personal goal is to make depositors whole and that's what I'll aim towards. But the mix of tokens and positions everyone had might be different”
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