Mango Markets Exploit
Mango Markets
Critical
Resolved
October 11, 2022
Oracle Manipulation
$114,000,000.00
Description
An attacker manipulated the MNGO token price oracle by taking large positions on two exchanges, artificially inflating the price to take out significant loans against their position.
Technical Details
The attacker manipulated Mango's oracle price by taking large opposing positions on two exchanges, artificially moving MNGO's price. This allowed the attacker to take out massive loans against their position, draining Mango's treasury.
DEX
Oracle
Lending
Exploit Timeline
Initial Attack
Attacker began manipulating MNGO price across exchanges.
Funds Drained
Approximately $114M was drained from the protocol.
Negotiation
Attacker negotiated to return $67M, keeping $47M as a "bug bounty".
On-Chain Details
Protection Resources
Smart Contract Security Checklist
Essential checks for contract developers
Oracle Attack Prevention Guide
Learn to prevent oracle manipulation
Emergency Response Playbook
Quick response guide for projects