Mango: Plan to compensate tokens based on the balance snapshot one hour before the attack

ChainCather news, the DeFi protocol Mango has initiated a community proposal to repay users with different tokens. The amount users can receive will be based on their balance snapshot one hour before the attack (Beijing time, October 12, 6:19), which will minimize the difference between the tokens users held before the exploit and the tokens they will receive. All perpetual futures or borrowed funds will be settled according to the snapshot time, and the profit and loss (PNL) will be converted to USDC. Each token in the treasury will be checked in order from least to most, and the borrowed amounts will be repaid in that order. Once the proposal is published, the DAO will have 72 hours to vote on it.

Previous report, Mango received $67 million in assets returned by the attacker and is exploring the use of algorithms and a separate program to redistribute the funds. (The Block)