Is this the trader who tapped into $100 million mango markets?

Important fast food

  • $100 million was drained yesterday on the perpetual decentralized futures exchange Mango Markets.
  • A dealer named Avraham Eisenberg recently discussed attacking protocols in a similar way on a private Discord server.
  • Activity on the chain indicates that an Ethereum address could have earned $30 million from the exploit.

Scout thinks he knows the identity of the person responsible for the $100 million Mango Market attack, but how reliable is his testimony?

Mango market is exploited

Cryptocurrency trader Avraham Eisenberg allegedly discussed exploiting a protocol on a Discord server for a nine-digit swap. Six days later, Mango Markets drained $100 million.

According to independent investigative reporter Chris Brunet, Mango Markets funds were drained yesterday by crypto trader Avraham Eisenberg. Brown woman Claims Eisenberg previously spoke in a private discord server about the possibility of attacking a protocol in a similar way to how Mango Markets is exploited.

Mango Markets is Solana’s decentralized derivatives exchange. On October 11, around 22:19 UTC, the attacker began artificially increasing the price of the illiquid MNGO token from $0.3 to $0.91 by taking a large position in the Mango perpetual futures contract. Then they used their large unrealized profits as collateral to borrow the assets belonging to the protocol, It drains more than $100 million from her treasury.

dispute discussion

In his article, Brunet claims that Eisenberg pushed the idea to attack a lending protocol on Discord on October 5th. It is reported that Eisenberg wrote under his pseudonym Vires Kreditor and Honest Person “I am looking for a platform that might lead to a 9-figure payday.” When another Discord member suggested sharing the information with the famous samczsun for encryption disk, Eisenberg replied that the protocol’s vaults were small and that he likely wouldn’t get a big reward if he deployed the attack vector.

He then explained the same attack: “You take a long stand. That’s what you do [the price] Go up. And then you pull all the protocols [total locked value]. When another Discord member specifically said it would be a theft, Eisenberg replied that he considered it an act of arbitrage, meaning a trade intended to profit from the different prices of certain assets.

Eisenberg further said that the Ethereum lending protocol Aave can be exploited in this way, although the attack would require at least $10 million up front to work. Eisenberg described this particular exploit as “more disturbing than I had thought.”

Brunet provided screenshots of the conversation on his Substack page. when i call him cipher feedBrunet claimed that the conversation had been deleted from the Discord server by the channel’s moderators in a panic. cipher feed So he was unable to independently verify the authenticity of these footage. But if accurate, it means that Eisenberg was discussing an exploit remarkably similar to the one that rocked Mango Markets six days before it happened.

Activity in the series

Brunet provided a screenshot of Eisenberg and on June 4 gave the ENS name for one of his Ethereum addresses: ponzishorter.eth. An ENS name is associated with an account that begins with 0xADBaBWhich is the account that registered name in the first place.

As pointed out by Brunet, ponzishorter.eth Receive Exactly $7,500,000 in USDC Live from Circle at 23:28:35 UTC. Brunet found the transaction suspicious because of mango striker It was I sent $7,519,769.12 to Circle from Solana at 23:27:07 UTC, which means the two transactions were sent within one minute and twenty-eight seconds of each other.

cipher feed Later I found two additional transmissions that were horribly timed. attacker first I sent Call $5,000,000 in USDC at 23:14:54 and wallet ponzishorter.eth Receive $4,500,000 in USDC at 23:16:35, about a minute and thirty-nine seconds later. the attacker then I sent Another $20,000,000 in USDC to Circle at 23:17:38; One minute and nine seconds later, it’s 23:18:47, ponzishorter.eth Receive 18,000,000 USD in US Dollars.

While ponzishorter.eth Wallet consistently receives lower amounts than the attacker sent Circle, the timing of transactions is suspicious.

Interestingly, the owner of ponzishorter.eth also immediately chose they change US$30 million for DAI. The department is known to blacklist the USDC and freeze the hackers’ addresses. It is possible that the owner of ponzishorter.eth has intentionally traded his tokens against decentralized stablecoins to avoid this.

It is worth noting that Mango is the attacker I sent Another $25 million for Circuit around the same time. The transaction was not reflected on ponzishorter.eth, which indicates that the attacker may have at least one other wallet, or that he kept the funds in the circle’s account (which is unlikely).

When the spokesperson was reached for comment, a spokesperson told the department cipher brief, Circle is investigating the incident in question and will take appropriate action.

So far, the link between ponzishorter.eth and Eisenberg is based on Brunet’s screenshot, and there is no conclusive evidence that he is the culprit in this case. However, this isn’t the first time Eisenberg has faced similar accusations. In February it was Accused on Twitter about taking advantage of the Fortress DAO for $10 million.

cipher feed He reached out to Eisenberg for comment but had not received a response as of press time.

Disclosure: At the time of writing, the author of this article owns BTC, ETH, and many other cryptocurrencies.

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