Unchained The Mango Markets Attacker on Whether His 'Trade' Was Ethical or Not - Ep. 413
Oct 28, 2022
Avraham Eisenberg, known as the Mango Markets attacker and blogger at DeepFi Value, dives into the controversial world of DeFi exploits and trading ethics. He shares his personal journey, discussing the decision to return part of the funds from his exploit and the misconceptions surrounding bad debt in Mango Markets. Avi explores the fine line between arbitrage and exploitation, reflecting on why lucrative traders often face public disdain. He also touches on the complexities of running non-zero-sum games and comments on Compound's strategy regarding illiquid assets.
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Code vs. Intent
- Avi Eisenberg views smart contract exploits as a mismatch between code function and intent.
- He argues that the intent is sometimes unclear, especially when code relies on fluctuating variables like token price.
Fund Return Motivations
- Hackers may return funds for various reasons, not always out of pure altruism.
- Avi Eisenberg claims his motivation was to mitigate harm to other Mango Markets users.
Bad Debt Misconception
- A misconception arose about Eisenberg demanding repayment of Mango Markets' bad debt to Solend as a condition for returning funds.
- Eisenberg clarifies this is false; the settlement aimed to address the platform's insolvency and ensure user withdrawals.
