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$100M+ Crypto Hacks: A History of Black Hat Web3 Tactics | EP 13
Good Game
The Mango Native Token Hack
Mango itself had very low liquidity and it was a very low float token. Any one buyer can come in with let's say $5 million and drive the value of the price to an area that is good for the hacker or attacker. So he took a loan using the collateral that was denominated in the Mango native token. He borrowed money using that collateral. That collateral eventually went back to whatever the fair value was, which is 10x smaller.
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