Mango Markets, a Solana-powered DeFi protocol, is principally the newest sufferer of an exploit that resulted in the loss of over $100 million price of crypto.

The platform acknowledged in a Twitter substitute that it had disabled deposits on the front stop as a precaution and would extra substitute the finishing up because it developed.

“We are at the 2nd investigating an incident the place a hacker became in a predicament to empty funds from Mango through an oracle designate manipulation. We are taking steps to cling third events freeze funds in flight,” acknowledged Mango in a tweet.

In a separate tweet, Mango requested the hacker to rep alive to to discuss a “worm bounty” for figuring out the vulnerability.

The attacker reportedly manipulated designate oracle data in expose to instant spike up collateral price after which drain high price loans from the Mango treasury. At the time of writing, the hacker’s myth on the platform presentations several ravishing withdrawals totalling shut to $116 million. The single greatest withdrawal became for $54 million price of USDC, adopted by a withdrawal of $25 million price of Marinade Staked SOL (MSOL).

In accordance with an prognosis of the attack from Joshua Lim, the attacker “effectively worn out all readily accessible liquidity on mango” while accomplishing the exploit.

Some other substitute from the Mango crew published a more in-depth explanation of what transpired on the protocol earlier in the day. The crew also acknowledged that Mango customers would now now not be in a predicament to withdraw their property from the protocol for the reason that incident had resulted in “a total draining of all fairness readily accessible.”

In August 2021, Mango Markets raised $70 million in the span of 1 day for the length of its MNGO token sale. At the time of writing, the protocol’s native token MNGO became down by better than 40% over the final 24 hours.