Crypto Trader Admits Involvement in Solana-Based DeFi Protocol's Recent $100,000,000 Loss - The Daily Hodl

A crypto trader has stepped into the spotlight in an effort to clear the air on how Mango Markets, a Solana-based decentralized finance (DeFi) trading platform, recently lost $100 million.

Avraham Eisenberg, who runs a trading firm and describes himself as a “digital art dealer,” went public on Saturday as the brains behind the “legal” exploit of Mango.

Eisenberg says he never viewed the event as a hack, but as a trading strategy that outsmarted a vulnerable protocol. The crypto trader puts the blame on Mango’s developers for failing to anticipate last week’s events.

Shortly before Eisenberg came forward, Mango Markets offered a deal with him to return slightly less than half of the exploited funds as a whitehat bounty.

Mango asked for roughly $47 million in crypto to be returned to the platform, including Bitcoin (BTC), Solana (SOL), Serum (SRM), Ethereum (ETH), FTX Token (FTT), Binance Coin (BNB), Mango (MNGO), Marinade Staked Solana (mSOL), and USD Coin (USDC).