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According to Coindesk, the $114 million in funds siphoned out of decentralized crypto exchange (DEX) Mango Markets wasn’t the result of a hack, according to former FBI Special Agent Chris Tarbell. Tarbell, who previously worked at the FBI's cybercrime squad in New York, said that the exploit of Mango Market was “more of a market manipulation.” “This wasn’t [about] getting into a system and getting unauthorized access,” Tarbell said, referring to the strategy used by the illicit actors. One of the confessed exploiters, Avraham Eisenberg, called the exploit a “high-profit trading strategy” in a tweet before confirming he would return $67 million of the stolen funds. Tarbell says the crypto industry needs to “clean itself up,” and regulators are likely to step in.

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【Mango's $114M exploit was 'Market Manipulation,' ex-FBI Special Agent says】According to Coindesk, the $114 million in funds siphoned out of decentralized crypto exchange (DEX) Mango Markets wasn’t the result of a hack, according to former FBI Special Agent Chris Tarbell. Tarbell, who previously worked at the FBI's cybercrime squad in New York, said that the exploit of Mango Market was “more of a market manipulation.” “This wasn’t [about] getting into a system and getting unauthorized access,” Tarbell said, referring to the strategy used by the illicit actors. One of the confessed exploiters, Avraham Eisenberg, called the exploit a “high-profit trading strategy” in a tweet before confirming he would return $67 million of the stolen funds. Tarbell says the crypto industry needs to “clean itself up,” and regulators are likely to step in.

Mango's $114M exploit was 'Market Manipulation,' ex-FBI Special Agent says

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Mango's $114M exploit was 'Market Manipulation,' ex-FBI Special Agent says

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