In the fourth quarter of the year 2022, hackers exploit a Solana-based trading platform Mango Markets and stolen assets worth $100 million.
Mango attack last October made headlines due to an attack on the BNB chain in the mango market. However, it attracted so much attention and how to get the hacker behind customers deposit.
Well, I don't know if this is possible because the hacker transferred the Mango Market assets without leaving a trace. But lately, it been notice that the assets went through Tornado Cash, which acted as a coin mixer for the transactions. The US government later went against the coin mixing company Tornado and banned the operation as this is not the first time this has happened. And it often happens that hackers use a coin mixer so that the addresses are not recognized.
With a lot of research, Mango Market finally found the person behind the network's $100 million exploit. Mango Markets accuses Avraham Eisenberg.
Avraham manipulates the mango utility token (MNGO) and then steal the asset by converting it to his own account.
Oh! That's huge, $114 million,
Avraham Eisenberg who claimed he also runs a trading company, that's where I'm confused if he steals to run his own business. Which means that if this malicious attack succeeds without a trace, Avraham will use the stolen assets to support and boost his business, and many of us will not know how the company gets money. Common scenerios, then we fall and invest in a fraud company.
In fact, Eisenberg is not alone in these malicious attacks, he was involved in a group of trading teams that had a very profitable strategy.
But after the incident was already went on public that he is responsible for the attacks, he returned about $67 million dollars, but I am not sure. He continues to plan many other attacks on the Mango market and other cryptocurrency protocols. However, Mango Market filed a complaint against him in New York's Southern District Court, seeking compensation for his damages.
The Commodity Futures Trading Commission (CFTC) took over the case and filed charges of market manipulation. However, he was arrested in Rico last December and detained for further investigation. Now that he is guilty of fraud, will there be a punishment that will make him regret his action and also be a great lesson to others.
PS: not all project managers are trustworthy, some are real scammers who find their business with illegal money.
Image source: istockimage
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