Hack or Genius? 70M$, a costly lesson we should learn and could happen again, from Mango Markets
47Useful links:
Mango Markets Twitter: https://twitter.com/mangomarkets
Bounty proposal: https://dao.mango.markets/dao/MNGO/proposal/GYhczJdNZAhG24dkkymWE9SUZv8xC4g8s9U8VF5Yprne
Explanation: https://twitter.com/joshua_j_lim/status/1579987673376514048
Hacker talks: https://twitter.com/avi_eisen/status/1581326199682265088
BONUS:
Up to 30k$ on Bybit (Signup, Deposit, and Trade needed): https://bit.ly/3CJEubI
Up to 5020k$ on Bitget (Signup, Deposit, and Trade needed): https://bit.ly/3qZ8uO6
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The content provided here is intended for informational purposes only. It should not be considered as financial, legal, or tax advice. The views expressed in this text are solely those of the author and should not be interpreted as the opinions of a licensed financial advisor or registered investment advisor. Please be aware that trading cryptocurrencies involves significant risk, and there is a possibility of experiencing losses. The author does not guarantee any specific results or outcomes. Before making any financial decisions, it is recommended to seek advice from qualified professionals.
#mangomarkets #liquidity #strategies #defi
00:00 One of the worst week in the history of Defi, Mango Markets. What happened, why and how you can defend yourself
01:20 The Mango Markets
01:39 Trading with leverage meaning
02:01 What happened
02:46 Why he was doing this
03:09 Why it is possible
03:23 If you wanna check how much money is needed for each assets to move the price
04:07 A bout other assets
04:45 The point
06:00 What happened after, something unique
07:45 What is even more incredible
08:00 The statement form the user
08:14 About a sentence: using the protocol as designed
08:50 From The Mango twitter account
09:35 The numbers
10:19 The final suggestion I give you
12:09 Two important risks
12:12 The first one
12:40 The second one
13:00 Liquidity
13:26 Suggestions
13:39 Conclusion