Mango Markets is a decentralised trading platform on Solana offering spot and perpetual markets, notable as the site of a large 2022 exploit that manipulated an oracle price to drain its treasury.
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- Mango Markets provides on-chain margin and derivatives trading, drawing collateral and pricing from on-chain data sources. In 2022 an attacker inflated the value of a thinly traded asset to borrow against it and drain a large sum, exposing oracle and liquidity assumptions.
- The episode became a reference case for price manipulation risk in decentralised finance, where automated market makers and lending rely on accurate, manipulation-resistant price feeds. It connects to broader decentralised exchange design.