The DeFi-platform Mango Markets community voted in favor of a settlement with the hacker who stole $116M from the protocol. He will return $69 million and keep the remaining $47 million as a reward.

96.6% of users were in favor of the proposal. All participants will receive a full refund from the treasury and waive any potential claims and criminal cases.

According to The Block, the hacker used $10 million to carry out the attack. Despite this, his reward could be one of the largest in the cryptocurrency industry.

On October 12, an unknown person took out about $116 million in digital assets from Mango Markets. The reason for the hack was cited as oracle price manipulation.

The same day the head of the cryptocurrency exchange FTX Sam Bankman-Fried commented on the hack Mango Markets. According to him, it was not the malfunctioning of price oracles that allowed the attacker to withdraw funds, but the shortcomings of the risk assessment system.

https://altcoin.ng/mango-markets-agree-to-pay-out-47m-to-a-hacker/