Did a man try to steal $110 million by rigging mango markets?

REUTERS/Dado Ruvic/Illustration NEW YORK, Dec 27 (Reuters) - U.S. prosecutors have filed criminal charges of commodities fraud and manipulation against a man accused of trying to steal about $110 million in October by rigging the Mango Markets cryptocurrency exchange.

What happened to Mango markets?

On October 11, the Solana exchange was drained of roughly $110 million, with Mango Markets tweeting that a hacker had manipulated the platform’s price oracle. In December 2022, the U.S. Department of Justice arrested Eisenberg for his involvement in the Mango Markets hack, to which Eisenberg admitted on Twitter.

How did a mango heist kill a depositor?

An attacker spirited away about $100 million from decentralized finance provider Mango by manipulating the price of its token in an exploit that wiped out depositors on the crypto platform. The heist began with two accounts funded with the stablecoin USD Coin, the platform said Wednesday on Twitter.

What is a Mango Attack?

The Mango incident is “a price manipulation attack” that took advantage of the ability to leverage up positions on the platform, according to BlockSec, a company specializing in crypto security.