A security event hit the cryptocurrency sector at decentralized finance platform Mango just days after a hacker made off with about $100 million in an exploit involving Binance Coin.
(Bloomberg) — A security event hit the cryptocurrency sector at decentralized finance platform Mango just days after a hacker made off with about $100 million in an exploit involving Binance Coin.
Mango said on Twitter it’s “investigating an incident where a hacker was able to drain funds” and is disabling deposits.
The platform added that it’s taking steps to “have third parties freeze funds in flight.”
Mango also asked the hacker to get in touch to discuss a “bug bounty.”
This is the latest in a string of security incidents to afflict the digital-asset sector, which is also reeling from a plunge in token prices.
Some $2 billion has been lost in crypto hacks this year, many perpetrated by North Korea-linked groups.
Last week, a total of 2 million Binance Coin — equivalent to nearly $570 million — were effectively minted and taken by a hacker.
About $100 million wasn’t recovered, while the rest was frozen, according to a Binance statement.
More stories like this are available on bloomberg.com
©2022 Bloomberg L.P.
