Mango Markets Hacker Arrested in Puerto Rico
The self-proclaimed game theorist and hacker who spearheaded a $110 million exploit on decentralized exchange Mango Markets in October this year, Abraham Eisenberg, has been arrested in Puerto Rico. The investigating authorities found out that Eisenberg, who is formally a US resident, fled to Israel just a day after the theft. According to FBI Special Agent Brandon Ratz, Eisenberg "willfully and knowingly" employed a malicious strategy to artificially manipulate prices on the DeFi exchange: “Eisenberg engaged in a scheme involving the intentional and artificial manipulation of the price of perpetual futures contracts on a cryptocurrency exchange called Mango Markets, and other manipulative and deceptive devices and contrivances.” Recall that four days after the exploit on Mango Markets, Abraham Eisenberg independently wrote about it on Twitter, admitting his participation in the theft of funds. He called the hack a "highly profitable trading strategy" that his team employed, and also stated that the hacking and theft of user funds were "legal open market actions." As early as November, Eisenberg struck again, this time targeting the Aave decentralized lending protocol. He attempted to replicate the exploit by borrowing millions of Curve DAO (CRV) tokens from Aave's already illiquid pool with the intention of selling them short. However, this plan led the "entrepreneur" to seven-figure losses.
Charles Hoskinson to Test the Security of a New $1 Million Cardano Wallet
Cardano (ADA) co-founder, Charles Hoskinson, says he is ready to test the security of a new wallet company called Lace, created by Cardano Input Output Hong Kong (IOHK), whose main goal is to seamlessly connect all Web2 and Web3 chains with a single interface. In a recent YouTube monologue, Hoskinson said that the recent breach of the password management company LastPass seemed "extraordinary" to him. The company said last week that an unauthorized person gained access to a third-party cloud service the company uses to store archived backups of its production data. According to LastPass CEO, Karim Tubba, the hacker obtained basic customer account information and related metadata, including company names, end user names, billing addresses, email addresses, phone numbers, and IP addresses from which customers accessed the service. last pass. According to Hoskinson, what happened was clearly a "screw up" on the part of the company and says that it is "pretty dirty." So he promised to put $1 million in ADA into a paper wallet encrypted with Pretty Good Privacy (PGP) and post it on Twitter for users to try to hack it. Thus, he wants to confirm that master passwords, no matter how long they are, are a dead standard and should not be used anymore.